In its Q3 earning update on 31 October Magna confirmed that its DMS/OMS rearview mirror with Seeing Machines technology is being launched into additional car manufacturers aside from Volkwswagen.

The Magna CEO Seetarama Kotagiri stated in his investor overview last Friday that “…in advanced safety, our mirror integrated driver and occupant monitoring system is meeting growing global demand for DMS technologies.

As you may recall, this product earned a 2024 Automotive News PACE Award for its innovation and safety impact. We are launching this system with multiple customers worldwide and volumes are expected to reach several million units annually.”

This is encouraging news as we await the latest set of KPIs from Seeing Machines this week. I expect them to confirm its lead in automotive and growing traction in sales of Guardian Gen 3, while we wait for some huge contracts in the latter. 

Indeed, while Smart Eye has only now hit 3m cars on the road with its tech, Seeing Machines is set to speed past 4m, on the way to 5m by the end of the year.

Toyota 

The news last week of progress in Japan, with an OEM that I believe is Toyota, failed to make much impact on the share price. I found that surprising as the engineering work on this cutting edge interior monitoring system (featuring both DMS and OMS) will generate not insignificant revenues, industry estimates vary from $4-5m.

Of course, much more significant is the near certainty that this Advanced Development Project will lead to a very large contract from this OEM in the first half of 2026.

That contract alone will increase the price any acquirer will eventually have to pay for Seeing Machines.

The writer holds stock in Seeing Machines.