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Geely Auto Group (Geely) will work with Smart Eye on the development of a new range of high-end safety systems using Smart Eye's AI-powered driver monitoring (DMS) technology. The new systems, in part, will allow semi-autonomous drive to become possible. Geely and Smart Eye will further develop the technology to produce semi-autonomous capable cars in 2019.
"Geely is proud to announce this partnership with Smart Eye as safety has always been our primary concern. It's only a natural step that we collaborate with the world leader in AI-powered eye tracking technology to ensure the safety and security of all occupants in our vehicles." said An Conghui, President and CEO of Geely Auto Group.
By studying movement of the eye, face and head, Smart Eye's technology will assist in gaining insight into Geely drivers' attention state, focus and hypothetical drowsiness on the road. Its goal is to understand and assist the driver in risky traffic situations and act accordingly. A significant majority of the world's traffic accidents still occur due to driver's distraction or impairment, such as engaging with a mobile device, other passengers or facing sudden illness. Smart Eye's driver monitoring technology is therefore developed to prevent traffic collision and save lives. The DMS technology will work in conjunction with and enhance the first level 3 ADAS (Advanced Driver Assistance System) system for Geely.
"A driver monitoring system is a safe and necessary step towards highly automated cars, and with more than 19 years' of experience in eye-tracking, we are more than ready for the mass-market. It's a great honor to enter the Chinese market together with Geely, one of the main Chinese OEMs holding a large market share in China. And let's put it this way about our presence in China - we're here to stay." says Martin Krantz, CEO and Founder of Smart Eye.
More information about Geely's new Smart Eye equipped vehicle will be available in due course.
For more information
Martin Krantz, CEO Smart Eye AB
Phone: +46 70-329 26 98
About Geely Auto Group
Geely Auto Group is a leading automobile manufacturer based in Hangzhou, China and was founded in 1997 as a subsidiary of Zhejiang Geely Holding Group. Geely Auto Group sells vehicles under the Geely Auto brand and holds a 50% stake in the LYNK & CO brand.
The company employs more than 30,000 people, operates 12 plants and manufactures vehicles under the Geely Auto brand. Geely vehicles are sold through a network of over 850 dealerships in China and some 350 sales and service outlets in overseas markets. The company, listed on the Hong Kong stock exchange, saw its sales volume increase to 765,000 units in 2016 with 2017 sales goal initially set at 1 million units and later revised to 1.1 million units. In 2017, Geely Auto Group sold a 1,247,116 units, an increase of 63% from previous year and beating their revised 2017 sales target by 12.7%. For 2018, Geely Auto Group has set their annual sales target to 1.58 million units, an increase of 27% from the previous year. In the first six months of 2018, Geely Auto reached record high sales of 766,630 units, completing 49% of their year end goal.
The controlling shareholder in Geely Auto is Zhejiang Geely Holding Group (ZGH), which is also the parent company of Volvo Cars, London EV Company, Lotus, Yuan Cheng Auto, and Terrafugia as well as a 49.9% minority stakeholder in PROTON. Geely Holding Group is committed to world-class research and development in the auto industry. It has established the Geely Automotive Research Institute in Hangzhou and the world-leading Geely Research Institute in Hangzhou Bay, Ningbo to focus on development of vehicles, engines, transmission and vehicle bound electronics. Other facilities include Design Centres in Barcelona, Gothenburg, California and Shanghai, and the China Euro Vehicle Technology (CEVT) in Gothenburg.
About Smart Eye
Smart Eye is a world leader in developing artificial intelligence (AI) powered eye tracking technology that understands, assists and predicts human intentions and actions. By studying a person's eye, face and head movements their technology can draw conclusions about an individual's alertness, attention, focus and gain insights into a person's awareness and mental status. Today, Smart Eye's eye tracking technology is embedded in the next generation of vehicles, helping the automotive industry take another step towards safer and more eco-friendly transportation. Smart Eye's research instruments offer unparalleled performance in complex, real-world situations, paving the way for new insights in aerospace, aviation, psychology, neuroscience, medical and clinical research. The company is headquartered in Sweden with operations in the US, China and Japan.
Smart Eye is listed on First North. Erik Penser is Certified Adviser and can be reached at +46-8-463 8000.
This information is information that Smart Eye AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on August 31, 2018 at 8:30 CET.