NEONODE SIGNS SUPPLY CONTRACT WITH US-BASED AUTOMOTIVE OEM

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STOCKHOLM, Sweden – October 14, 2016 – Neonode Inc., the Optical Interactive Sensing Technology Company, has signed a contract to supply its zForce AIR™ sensor modules to a US-based automotive OEM for vehicle entry systems, adding to Neonode’s list of automotive customers, who have already shipped over 1 million cars — in over 30 different car models — with zForce® technology. The value of the contract exceeds USD11M over its term starting in Q3, 2017.

zForce AIR technology, the technology that powers the AirBar™ device that brings displays to life by adding touch and gesture sensing to both new and existing PCs, can also be adapted to fit the most diverse automotive applications.

The automotive industry is currently reinventing itself, going through some of the biggest changes in its history. This increases the demand for innovative and cost effective sensor solutions and applications. zForce AIR sensors are thin, modular strips inserted along only one edge of a detection area, making integration easy for this wave of creative innovation. zForce AIR sensors bring the most advanced sensor technology to automotive OEMs with the quality and reliability that the auto industry requires, and that our customers, including Alpine, Bosch and Volvo, to name a few, have come to expect from Neonode.

The robust zForce AIR sensor is suitable for multiple deployments within one vehicle, including infotainment systems, entry systems, interactive steering wheels, as well as any surface inside or outside the vehicle to which an auto manufacturer wants to add touch or proximity sensing functionality. We expect to see multiple opportunities for deploying zForce AIR sensors in cars in the very near future, and in self-driving cars. To this end, Neonode is in the process of obtaining automotive-class certification for its zForce AIR module production facility in Sweden.

“We are extremely pleased to have our new sensors leading the way for entry systems in the automotive industry. We see this new supply contract as further evidence that Neonode will be a solid force in the automotive segment”, said Gunnar Fröjdh, VP Automotive Sales.

“The automotive industry represents large potential long term growth and stability in our global expansion plans. Neonode’s zForce technology is already installed in over 1 million cars today and its reliability and performance are proven in the industry”, concluded Thomas Eriksson, Neonode CEO.

About Neonode

Neonode Inc.develops and licenses optical interactive sensing technologies. Neonode’s patented optical interactive sensing technology is developed for a wide range of devices like automotive systems, printers, PC devices, monitors, mobile phones, tablets and e-readers. NEONODE and ZFORCE are trademarks of Neonode Inc. registered in the United States and other countries. ZFORCE AIR and AIRBAR are trademarks of Neonode Inc. All other trademarks are the property of their respective owners.

Source: Neonode

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Author: MyMotorWheels

I am a mechanical engineer and an automobile enthusiast.

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