UVeye, a provider of advanced vehicle diagnostic systems, has announced that it has received an investment from the capital venture arm of General Motors, GM Ventures, to help fund the development and commercialization of the company’s vehicle inspection technology.
UVeye also has entered into a commercial agreement with General Motors to explore the expansion of UVeye’s automated high-speed systems to GM dealerships throughout various markets.
Serving as the venture capital arm of General Motors, GM Ventures strategically invests in startup companies that share GM’s enterprise vision of an all-electric, hands-free, and more seamlessly connected future, and are helping to position GM as a leading transportation technology enterprise.
As part of the strategic collaboration agreement, the two companies have agreed to work on a variety of vehicle-inspection technology projects involving used-car auctions, fleet operations and automotive dealership sales. In the future, UVeye plans to incorporate electric-vehicle and autonomous-driving platforms into its inspection databases as well.
UVeye systems use artificial intelligence, machine-learning and high-definition camera technologies to quickly and accurately check tires, underbody components and vehicle exteriors for defects, missing parts and other safety-related issues.
More than 4,000 GM dealerships will be eligible to purchase the vehicle-inspection equipment, to use in their service lanes. The team will also explore applications for extending the technology to exterior scans and photography to generate online interest and potential sales for used vehicles.
Amir Hever, UVeye’s CEO and co-founder, noted that automated inspection processes take seconds to complete and are significantly more accurate than time-consuming manual inspections commonly in use today.
Early implementations of UVeye’s technology at limited GM dealers in North America are already yielding positive results. As the collaboration continues, the two companies will look to expand the applications of the technology across GM’s global dealer network, enhancing the robustness of real-time vehicle diagnostics and creating a more streamlined exchange of information between customers, their vehicles and service technicians.
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