Rekor Systems Inc. (REKR) stock prices were down by 5.74% as of the market closing on October 1st, 2021. This brought the price per share down to USD$10.83 at the end of the trading day.
REKR Stock Partners with Toyota
September 30th, 2021 saw REKR stock announce the collaboration of its Waycare Technologies subsidiary with Toyota Mobility Foundation. The partnership will serve to reduce traffic congestion and incidents in Bangkok, Thailand. The deployment is expected to continue for a year, targeting the country’s oldest and busiest road: Rama IV Road in Bangkok. Traffic incidents account for the loss of lives for roughly 20,000 people in the country.
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The company has deployed its AI technologies in a big to reduce traffic fatalities. This technology incorporates existing digital traffic management databases, including Grab, iTIC, road sensors, CCTV, and more. These technologies facilitate the analyzing and predicting traffic conditions. With the use of these predictive analytics, the collaborative partners will be better equipped to provide Bangkok’s transportation agencies with novel solutions to mitigate traffic congestion and incidents.
Expansive Scope of Success
The partnering companies’ collaboration is a significant milestone in Thailand and the surrounding region. The traffic management solution will be able to be replicated throughout Southeast Asia, where traffic has been a rising concern over the last two decades. Lives are hoped to be saved with the creation of accurate traffic predictions stemming from the analyzing of data that is readily available through cameras, connected vehicles, and more.
REKR Stock’s Traffic Platform
REKR stock’s traffic management platform leverages and processes data from various points throughout the city. This results in the raiding of real-time, highly accurate traffic alerts and predictions. With the notification to authorities of these high-risk accident zones, transportation agencies are hoped to be able to implement proactive measures. These measures will serve to avoid incidents and facilitate the provision of quicker response times, thereby reducing traffic congestion and fatalities.
Future Outlook for REKR Stock
The company is poised to capitalize on the expanded scope of opportunities at its disposal as a result of its partnership. REKR stock hopes to accelerate establishing the utility and proliferation of its technologies to benefit transportation authorities in Southeast Asia. Current and potential investors are hopeful that management will be able to leverage the resources at their disposal. This is hoped to usher in significant and sustained increases in shareholder value over the long term.