MINIEYE (02431) signed a memorandum of understanding with Indian leading car parts manufacturer STL

MINIEYE (02431) announcement, the company has recently signed a memorandum of understanding with Sterling Tools Limited (STL) to advance the deployment of Advanced Driver Assistance Systems (ADAS) and Driver Monitoring Systems (DMS) in India. The memorandum of understanding outlines the key terms and understandings reached by the company and STL for their cooperation. This collaboration marks the group's initial foray into the Indian market, reflecting its broader overseas expansion strategy. The group will provide full-stack ADAS and DMS solutions and products for passenger cars and commercial vehicles, while STL, as a long-term player in the Indian market with a wide network of OEM relationships and local production capabilities, will provide localization support and industry collaboration. Founded in 1979, STL is a leading manufacturer of high-strength cold forged automotive fasteners in India, with products used in passenger cars, motorcycles, commercial vehicles, and construction machinery. STL specializes in precision engineering and electric vehicle components, providing services to global OEMs and driving innovation in the automotive supply chain. STL's shares are listed on the National Stock Exchange of India (NSE: STERTOOLS) and the Bombay Stock Exchange (BOM: 530759). The collaboration between the company and STL will combine the expertise of both parties to deliver high-performance, localized intelligent driving solutions. By integrating the group's ADAS and DMS solutions with STL's local presence, this collaboration aims to meet the growing demand for ADAS and DMS solutions in the Indian market and contribute to the widespread application of smart mobility technologies worldwide.