September 29, 2020

mict

MICT Subsidiary Micronet Receives Initial Orders from One of the Largest Automotive OEM Truck Manufacturers in Europe


• Significant revenue potential from broader commercial agreement to be signed with the new OEM customer 

• Marks Micronet’s first potentially significant engagement with a leading OEM automotive manufacturer, opening opportunities to sell directly to other OEMs in addition to its current distribution channel through telematics service providers

MONTVALE, N.J., Sept 29, 2020 /PRNewswire/ -- MICT, Inc. (Nasdaq: MICT), (the "Company"), announced today that its majority-owned subsidiary Micronet Ltd. ("Micronet") has received initial orders from a leading European truck manufacturer for units of its new SmartHub and SmartTab 8 tablets. These are the first orders received from this customer, a very significant Original Equipment Manufacturer (OEM) with tens of thousands of trucks manufactured and sold worldwide. These orders were received as part of a field trial conducted by the customer a broader commercial framework agreement

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About MICT, Inc. MICT, Inc. (NasdaqCM: MICT) operates through Micronet Ltd. (“Micronet”), a former subsidiary, in which MICT previously held a majority ownership interest that has since been diluted to a minority ownership interest. Micronet operates in the growing commercial Mobile Resource Management (MRM) market, mainly in the United States. Micronet designs, develops, manufactures and sells rugged mobile computing devices that provide fleet operators and field workforces with computing solutions in challenging work environments.

 

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