ServTech Global Holdings Ltd reports that its wholly-owned subsidiary Vection Italy S.R.L (Vection) has executed a Framework Collaboration Agreement with global luxury automotive manufacturer Volvo Car Italia SpA (Volvo).
Following the delivery by Vection of an interactive Augmented Reality (AR) experience for Volvo’s Italian world-wide presentation of the E.V.A. initiative, Volvo and Vection plan to continue the utilisation of Vection’s proprietary Virtual Reality (VR) technologies to market and create new and interactive consumer experiences to appeal to a greater number of potential customers.
Chiara Angeli, sales & marketing director of Volvo Car Italia, comments, “Vection was able to produce a compelling experience for Volvo Car Italia for the E.V.A. Initiative. We look forward to seeing what can be done to incorporate the technology into other Volvo Car Italia business verticals.”
Gianmarco Biagi, managing director of ServTech, says, “The Framework Agreement with Volvo is the first agreement executed by Vection among a number of ongoing negotiations, and forms part of the Company’s broader global partnership strategy aimed at positioning Vection as the leading VR software provider for Tier1 companies. Furthermore, this close collaboration with Volvo cements Vection’s positioning in the automotive industry, supporting Volvo in its growth & development strategy. Our first engagement under the Framework Agreement commences immediately.”
“The Framework Agreement with Volvo validates ServTech’s strategic acquisition of Vection and its entry in the growing VR & AR software market segments. The adoption by Volvo of Vection’s VR technology is critical in the Company’s positioning in the automotive industry and provides the Company with significant global exposure,” according to Bert Mondello, chairman of ServTech.
Vection’s first engagement under the Framework Agreement will see Vection develop an AR marketing solution to showcase Volvo’s Occupant Protection and Safety Equipment. This includes crucial automotive systems such as car safety cells and airbags systems.
The AR marketing solution will be based on Vection’s proprietary technology and will be installed at the prestigious Volvo Studio in Milan, Italy. Vection’s work on the solution has commenced and is expected to be completed within the current month.