SaverOne Advances Collaboration With Iveco To Elevate Road Safety Standards

SaverOne 2014 Ltd. SVRE has inked a pact with Iveco Group N.V. IVCGF to advance collaboration for elevating road safety standards in the trucking industry.

The parties intend to start the development activities in the fourth quarter of 2023. The initial MOU with IVECO was inked in October 2022.

The latest agreement provides IVECO with an exclusivity period of up to six months, during which SaverOne agreed not to sell, develop or manufacture its OEM solution for SaverOne's in-cabin Driver Distraction Prevention Solution (DDPS) with any other truck manufacturer.

Ori Gilboa, CEO of SaverOne, commented, "We look forward to potentially launching our work with them later this year, leveraging our expertise and their strong competitive positioning to revolutionize safety standards in the trucking industry."

In March, SaverOne 2014 bagged a deal with Electra Afikim to install the SaverOne system across 1,200 vehicles.

Also Read: SaverOne Shares Pop After It Bags Record Deal For Road Safety

Price Action: SVRE shares are trading lower by 9.09% to $1.40 on the last check Wednesday.