SenSen Networks Ltd
SenSen Networks Ltd (ASX:SNS) is listed on the Australian Securities Exchange.
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SenSen Networks signs MOU to kick-start Australian autonomous vehicles push
SenSen Networks Ltd (ASX:SNS) has signed a Memorandum of Understanding with Australian company ACE Electric Vehicles Group (ACE) to develop SenSen's AI and sensor analytics solutions for ACE electric vehicles.
This MOU represents the company's launch into building solutions in the rapidly growing field of autonomous vehicles.
Subject to ACE being satisfied with the performance of SenSen's autonomous driving technology and ACE wishing to offer the technology as an addition to ACE's vehicle, the parties will negotiate reasonably and in good faith at that time to enter an agreement for the supply of the technology by SenSen to ACE.
"Shift towards automated driving"
SenSen chief executive officer Subhash Challa said: "Globally, the shift towards electric vehicles and automated driving is inevitable, and SenSen is positioning itself to be an important part of that evolution.
"Licensing SenSen AI technology and our SenDISA software for Robotics, Automation and Autonomous Driving is part of the roadmap for SenSen and we are excited to be working with ACE to accelerate our long-term vision to be a major player in the autonomous driving industry.
"We see this collaboration with ACE Electric Vehicles Group as a significant step forward in fulfilling our commitment to assist governments in creating a safer, more efficient living and working environment for their citizens."
The MOU will automatically terminate on the earlier of the date of execution of the supply agreement or June 30, 2021.
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2020-04-17 - SenSen Networks lands $1.24 million contract to ease Singapore traffic congestion
2020-02-06 - SenSen Networks highlights 2019 milestones, including 150% revenue growth
2019-12-04
