TerraNet: New V2V Order From Leading Tier One Company
Edison | Dec 07, 2017 06:38AM ET
TerraNet Holding AB (ST:TERRNTb) has announced a new order worth SEK950k ($113k) from a world-leading provider of passive and active safety in the automotive sector. TerraNet is already working with this tier one company to provide sensor-based vehicle communications for offline and non-cellular network services (using TerraNet’s know-how in direct device-to-device Wi-Fi based wireless communication). This specific order is for the continued development of LTE (long-term evolution – or 4G wireless technology) for use in autonomous vehicles. This order is a particularly important verification of the group’s progress in bringing its direct Wi-Fi communications expertise to the LTE space, which is widely expected to become the communication medium of choice for vehicle-to-vehicle (V2V) communications in the future. On this basis, the development of a software module for sale by a leading tier one provides substantial upside potential for the group.
TerraNet is working to quite a tight deadline. TerraNet and its partner intend that the embedded software module will be licensed and serve as an integral system component in new light vehicles by 2020.
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