Shares in Seeing Machines Ltd (AIM:SEE, OTC:SEEMF) rose 12% after announcing a strategic collaboration with Mitsubishi Electric Mobility Corporation, which includes a £26.2 million investment at a premium to market value.
The partnership focuses on driver and occupant monitoring systems (DMS and OMS) to enhance automotive safety, with plans to accelerate adoption in the Japanese market.
Mitsubishi will leverage its extensive aftermarket network in Japan, Europe, and North America to distribute Seeing Machines’ Guardian Generation 3 technology, driving faster market penetration.
The collaboration also opens opportunities in adjacent markets where Mitsubishi holds strong positions.
The investment gives Mitsubishi a 15% stake in Seeing Machines, with plans to increase this to 19.9% via a secondary share acquisition.
In the first hour of trading, the stock was up 0.5p at 4.95p.