GPS TUNER Selects Vuzix (NASDAQ:VUZI) Z100 Smart Glasses to Bundle as a Heads-Up Display for Their eBike Software Offerings

Rhea-AI Summary

Vuzix (NASDAQ: VUZI) announced that its Z100 smart glasses have been chosen by GPS TUNER, a leader in eMobility software solutions, to bundle as a heads-up AR display for their eBike apps. GPS TUNER plans to offer eBike manufacturers the option to include Vuzix Z100 smart glasses with every bike sold, aiming to reduce rider distraction and enhance the usage of their mobility apps.

GPS TUNER's new V2X technology, demonstrated with Vuzix Z100 smart glasses at Eurobike 2024, aims to transform road safety by enabling real-time communication between vehicles, infrastructure, and personal devices. The company's CEO, Gábor Tárnok, expressed confidence in the combined solution's appeal to their eBike customers, with an initial rollout anticipated this year.

Positive

• Partnership with GPS TUNER to bundle Z100 smart glasses with eBike software offerings
• Potential for increased sales and market penetration in the eBike industry
• Demonstration of V2X technology with Z100 smart glasses at Eurobike 2024
• Anticipated initial rollout of the bundled solution this year

Negative

• None.

Insights

Tech Industry Analyst

This partnership between Vuzix and GPS TUNER represents a significant step forward in the eMobility and augmented reality (AR) sectors. The integration of Vuzix Z100 smart glasses with GPS TUNER's software could potentially disrupt the eBike market by addressing a critical safety concern.

The deal's impact on Vuzix could be substantial, potentially opening up a new revenue stream in the rapidly growing eBike market. With over 2 million app downloads across 99 countries, GPS TUNER's reach could significantly boost Vuzix's market penetration. However, the actual financial impact will depend on adoption rates and the pricing strategy, which aren't disclosed.

For investors, this move signals Vuzix's ability to diversify its product applications and tap into new markets. The partnership also aligns with the growing trend of safety-focused tech integration in personal transportation, which could become a significant growth driver in the coming years.

Transportation Safety Expert

The integration of Vuzix Z100 smart glasses with GPS TUNER's eMobility software addresses a critical safety issue in the eBike and eScooter industry. By providing a heads-up display, this solution could significantly reduce accidents caused by distracted riding, which is currently the leading cause of incidents.

The V2X technology demonstration at Eurobike 2024 is particularly noteworthy. This real-time communication system between vehicles, infrastructure and personal devices represents a major leap in road safety technology. If widely adopted, it could revolutionize urban mobility safety, potentially leading to reduced accident rates and insurance costs for eBike and eScooter users.

However, the effectiveness of this solution will largely depend on user adoption and proper integration with existing traffic systems. Regulatory support and standardization will be important for maximizing the safety benefits of this technology.

ROCHESTER, N.Y., Aug. 16, 2024 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of smart glasses and Augmented Reality (AR) technology and products, announced that its Z100 smart glasses have been selected by GPS TUNER, a leader in white label eMobility software solutions, to bundle as a heads-up AR display compliment to the apps they offer and sell to eBike global manufacturers and their end-users.

GPS TUNER's mission is to revolutionize smart mobility by providing innovative, reliable, and user-friendly navigation solutions for bicycles, eBikes, eScooters, LEVs, and EVs, ensuring every journey is safe, efficient, and enjoyable. Its primary products include Companion App, Navie, and EV Navigation. These apps have been downloaded for phone use by over two million riders across 99 countries. With driver safety always top of mind, GPS TUNER plans to directly offer eBike manufacturers the option to include Vuzix Z100 smart glasses with every bike they sell, in order to reduce rider distraction and enhance the usage of their existing suite of smart mobility apps.

GPS TUNER's new V2X (vehicle-to-everything) technology, which was recently demonstrated along with Vuzix Z100 smart glasses at Eurobike 2024 held in early July in Frankfurt, Germany, aims to transform road safety. Developed in collaboration with end-to-end V2X solution provider Commsignia, this system enables real-time communication between vehicles, infrastructure, and personal devices, providing instant alerts and safety warnings for cyclists and scooter riders. It aims to facilitate safer, smarter travel while reducing accidents and ensuring secure journeys for vulnerable road users.

"Vuzix offers some of the best see-through wearables in the world and their Z100 smart glasses fit hand to glove with the use of our eMobility software apps," said Gábor Tárnok, CEO and Founder of GPS TUNER. "We believe many of our eBike customers will embrace this combined solution as an attractive feature for their products. Our initial roll out is anticipated for this year and we intend to expand as the demand requires."  

"The number one cause of scooter and smart bike accidents is distracted driving due to cell phone usage while riding. GPS TUNER solutions are tailor made to work with Vuzix smart glasses, creating a heads-up, hands-free solution for riders that will make them more informed while keeping their eyes on the road," said Paul Travers, President and CEO of Vuzix. "We're proud to support a safer driver population and look forward to seeing an expanded relationship with GPS TUNER as they market their bundled solution to their customers."    

About Vuzix Corporation
Vuzix is a leading designer, manufacturer and marketer of Smart Glasses and Augmented Reality (AR) technologies and products for the enterprise, medical, defense and consumer markets. The Company's products include head-mounted smart personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality, as well OEM waveguide optical components and display engines. Vuzix holds more than 375 patents and patents pending and numerous IP licenses in the fields of optics, head-mounted displays, and augmented reality Video Eyewear field. Moviynt, an SAP Certified ERP SaaS logistics solution provider, is a Vuzix wholly owned subsidiary. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2024 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in: Rochester, NY; and Kyoto and Tokyo, Japan.  For more information, visit the Vuzix website, Twitter and Facebook pages.

Forward-Looking Statements Disclaimer
Certain statements contained in this news release are "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward-looking statements contained in this release relate to Vuzix Smart Glasses, our business relationship and future business opportunities with GPS TUNER and their customers, the benefits and capabilities of the solution bundle and among other things the Company's leadership in the Smart Glasses and AR display industry. They are generally identified by words such as "believes," "may," "expects," "anticipates," "should" and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company's beliefs and assumptions as of the date of this release. The Company's actual results could differ materially due to risk factors and other items described in more detail in the "Risk Factors" section of the Company's Annual Reports and MD&A filed with the United States Securities and Exchange Commission lean and applicable Canadian securities regulators (copies of which may be obtained at www.sedar.com or www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law.

Vuzix Media and Investor Relations Contact:
Ed McGregor, Director of Investor Relations,
Vuzix Corporation
ed_mcgregor@vuzix.com  
Tel: (585) 359-5985

Vuzix Corporation, 25 Hendrix Road, West Henrietta, NY 14586 USA,
Investor Information – IR@vuzix.com  www.vuzix.com

 

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SOURCE Vuzix Corporation

FAQ

What is the partnership between Vuzix and GPS TUNER for eBikes?

Vuzix's Z100 smart glasses have been selected by GPS TUNER to bundle as a heads-up AR display complement to their eBike software apps, aiming to reduce rider distraction and enhance safety.

When was the Vuzix Z100 and GPS TUNER V2X technology demonstrated?

The Vuzix Z100 smart glasses and GPS TUNER's V2X technology were demonstrated at Eurobike 2024, held in early July in Frankfurt, Germany.

What is the expected timeline for the rollout of Vuzix Z100 smart glasses with GPS TUNER's eBike solutions?

According to GPS TUNER's CEO, the initial rollout of the bundled solution with Vuzix Z100 smart glasses is anticipated for this year (2024), with plans to expand as demand requires.

How does the Vuzix Z100 and GPS TUNER partnership aim to improve eBike safety?

The partnership aims to reduce rider distraction by providing a heads-up, hands-free solution that allows eBike riders to access GPS TUNER's apps while keeping their eyes on the road, potentially decreasing accidents caused by cell phone usage while riding.