Market Herald logo


Be the first with the news that moves the market
  • Vection Technologies (VR1) has started rolling out its car sales platform in partnership with Volvo Italy
  • The vection platform uses augmented reality to engage customers and sell cars
  • Potential buyers can see things like the inner workings of a car all through Vection’s software
  • So far, 20 out of 70 Volvo Italy car dealerships have signed on for the service
  • Vection is up four per cent today, selling shares for 2.6 cents each

Following the official launch of is FrameS tech in Europe, Vection Technologies (VR1) is now rolling out a subscription service with Volvo Italy.

Vection, formerly called ServTech, is a virtual and augmented reality specialist focussed on transforming the industrial design industry with digital worlds.

The Vection Car Sales Platform, which is being rolled out in Italian Volvo car dealerships, is an augmented reality (AR) sales tool.

Essentially, the tech lets potential customers engage with real-life Volvo models in a new digital way. For example, through the augmented reality software, users can see all the internal components of a Volvo car without ever putting a finger on the vehicle in real life.

Vection said 20 out of the 70 Volvo Italy dealerships have signed on for the service, with full subscription expected in the first few months of the new year.

Vection’s Car Sales Platform costs in $1252 (€770) per dealer per year for the first 12 months, and $1620 (€996) per dealer per year from thereon.

Vection’s Managing Director, Gianmarco Biagi, said the commercial validation of this software is a “key milestone” for the company.

“It marks a material step forward for the company and its technology. We are now finalising full adoption of the solution by Volvo Car Italy’s network expected in January 2020,” Gianmarco said.

At present, the tech has four different Volvo models available for AR interaction: the Volvo V60, V60CC, S60, and XC40. Vection said in its announcement to the market today, however, that the platform allows for easy uploads of new models.

The tech lines up well with Volvo’s Recharged Week promotion, which showcases the car creator’s new line of electric and hybrid cars. The Vection platform will help customers better understand how Volvo’s tech works.

Vection is up four per cent today, selling shares for 2.6 cents each in a $16.42 million market cap.

VR1 by the numbers
More From The Market Herald
Altium Limited (ASX:ALU) - Chief Executive Officer, Aram-Mirkazemi

" Altium (ASX:ALU) revenue slips for the first time in eight years

The invariable impacts of COVID-19 have put a stop to Altium's (ASX:ALU) consecutive revenue growth during…
Altium Limited (ASX:ALU) - Chief Executive Officer, Aram-Mirkazemi

" Altium (ASX:ALU) shares bump despite shrinking revenue expectations

Altium (ASX:ALU) has predicted its fiscal revenue for 2021 will be lower than initial guidance, following…
Altium (ASX:ALU) - CEO, Aram Mirkazemi

" Altium Limited (ASX:ALU) announces new auditor

Software company Altium Limited (ASX:ALU) has appointed KPMG as it auditor, replacing PricewaterhouseCoopers (PwC).
Altium Limited (ASX:ALU) - Chief Executive Officer, Aram-Mirkazemi

" Altium (ASX:ALU) maintains full-year guidance despite COVID-19 headwinds

Altium (ASX:ALU) has posted its half-yearly unaudited sales and revenue figures for FY21, revealing it endured…