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Panache Digilife inks a deal with Israel-based Mobileye Vision Tech for Retrofit Safety Devices in Indian market; Stock rallies

Mobileye is an industry-leading software supplier that develops Advanced Driver Assistance Systems (ADAS).

December 31, 2021 1:42 IST | India Infoline News Service
Panache Digilife Limited has entered into an agreement with Mobileye Vision Technologies Ltd., for their driver assistance-based products. Mobileye is a global leader in the development of vision technology for Advanced Driver Assistance Systems (ADAS) and autonomous driving and is based in Israel.

Panache Digilife has taken a major leap forward in its growth journey. Panache has entered into a strategic Distribution Agreement with Israel-based Mobileye for retrofit safety devices for the Indian Markets. Mobileye is an industry-leading software supplier that develops Advanced Driver Assistance Systems (ADAS).

Mobileye has innovated many distinctive products & technologies such as Mobileye SuperVision, self-driving vehicles, Vision based FCW, Highbeam systems, Mobileye traffic sign recognition systems, lane departure warning systems, Vision-only forward collision warning system and EyeQ chip.

Amit Rambhia, Chairman & Managing Director, “We at Panache Digilife Limited are very happy to have signed this agreement with Israel-based Mobileye. With its well-recognized brand and wide product range, this is a great partnership fit for Panache to widen our product portfolio, gain access to world-class technology and expand our customer-base by fulfilling the needs of the ever-dynamic markets. At present, we have distribution contract for few products out of a larger basket; although, gradually we can expand it going forward. We are very confident that this alliance will help in garnering a significant market share. As we have always believed in Making Human Life Easy, we at Panache constantly putting our maximum efforts to get it fulfilled”.

At around 1.40 pm, the company's stock was trading at Rs73 per piece up by 2.1% on NSE. 

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