Tech and artificial intelligence company SenSen Networks (ASX: SNS) is poised to accelerate Australia’s transition towards driverless vehicles having commenced a collaboration with ACE Electric Vehicles Group to push Australia’s manufacturing capabilities.
Specialising in smart city technology using multi-camera and multi-sensor data, SenSen already has significant AI on traffic data through their current capabilities which offer AI-driven solutions to law enforcement and parking enforcement. The collaboration will see SenSen supply the AI for autonomous vehicles to ACE which will provide the prototype vehicles.
“Globally, the shift towards electric vehicles and automated driving is inevitable, and SenSen is positioning itself to be an important part of that evolution,” said SenSen CEO, Subhash Challa.
“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 electric vehicle prototype, ACE Cargo, has already been deep in development in South Australia and can drive up to 200km on one charge of its battery, reaching speeds of up ot 85km/h.
Through the Memorandum of Understanding, the SenDISA (SenSen’s Distributed and Intelligent Sensor Analytics) platform will be integrated into ACE Cargo and will apply data from cameras and sensors to detect vehicles, people and objects, track and classify them.
Although no commercial terms have been disclosed to the market, the collaboration provides commercial opportunities for SenSen to gain significant exposure to ACE which could open up supply opportunities for other products.
“This is a great opportunity for two clever, innovating Australian companies to demonstrate leadership in the development of a cleaner, more secure, cost-efficient and smart transport system,” said ACE EV Group’s Managing Director, Greg McGarvie.
“Not only does the ACE vehicle bring back vehicle manufacturing and energy solutions to Australia, but as a world leader in AI and sensor technology, SenSen will provide its expertise to making our vehicles autonomous – a first for Australia!”
In April 2020, SenSen Networks was awarded a $2.5 million contract from the City of Las Vegas to accelerate the casino hub’s transition toward becoming a Smart City by 2025.
ACE Cargo is expected to arrive at SenSen’s Melbourne offices shortly.
Alfred Chan is a Business Reporter at The Sentiment specialising in ASX-listed small cap companies, a bloodstock enthusiast and former equities analyst.
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