MINIEYE (ASX: 02431) has announced the signing of a significant procurement and long-term cooperation agreement for its autonomous logistics vehicles.

The company recently formalized this agreement with an independent third-party enterprise based in Wuxi City. The successful conclusion of this partnership marks a crucial step forward for the group in the commercialization and market expansion of its autonomous logistics vehicle business.

The agreement is founded on principles of equality, mutual benefit, and long-term stability. Under its terms, the partner and third parties it assists in connecting will procure a total of 1,000 autonomous logistics vehicles and their accompanying software systems from the group during the agreement's validity period.

The vehicle models involved include the T5, T8, and other autonomous logistics products launched during the cooperation period. These vehicles are intended for deployment in various scenarios, including urban distribution, supply and distribution within city and county-level administrative regions, and the "last mile" of logistics.

Their application will span multiple logistics sectors such as fresh produce, food, pharmaceuticals, supermarkets, and building materials. The partner is responsible for coordinating the application for road rights and license acquisition for the vehicles within relevant regions.

MINIEYE will handle production, delivery, operation, and after-sales services according to the agreed standards. This collaboration is expected to help the group further expand its market share for unmanned vehicles and integrated solutions while enhancing its brand influence.

The partnership aims to continuously promote the large-scale commercial application of autonomous driving technology in smart logistics scenarios, thereby solidifying the group's leading position within the industry. By leveraging its core strengths in L4 autonomous driving technology, integrated hardware-software R&D, and mass production delivery, combined with the partner's resources and capabilities in regional operations and scenario implementation, the agreement seeks to drive the widespread adoption of autonomous driving technology in smart logistics.

This initiative is geared towards advancing the intelligent upgrade of the logistics industry, improving operational efficiency, and reducing logistics costs. The signing of this thousand-vehicle procurement agreement signifies an acceleration in the commercialization process of the group's autonomous vehicle business.

It represents a move to further expand market share, elevate brand influence, and strengthen the group's market competitiveness and industry impact.