HENDERSON, NV, May. 02, 2023, Movella Holdings Inc. (NASDAQ:MVLA), digitizing movement through its full-stack offering of sensors, software, and analytics, is providing data that increases safety for workers in automotive manufacturing. Toyota Motors Europe is utilizing Movella's MVN Analyze™ data in its upper and lower-body ergonomic analysis tools to troubleshoot production line processes and vehicle design.
Toyota Motors Europe's JT/SJT system incorporates Xsens motion tracking technology to monitor the physical health of its staff and maintain a safe, efficient workplace. The data captured by MVN Analyze™ provides an accurate understanding of workers' posture during the build cycle. It is then used for posture awareness training and to implement design changes on processes and vehicles.
"At Toyota, the health and safety of our employees is of the utmost importance," says Stuart Bassford, S&H Snr Spec at Toyota Motors Europe. "Movella has become an integral part of our ergonomic process improvement strategy, supporting our internal health & wellbeing approach of maintaining and improving the physical and mental health of our staff across the manufacturing divisions. We are excited to have them as a long-term partner, working with us to build an assessment tool that supports us in maintaining a safe, inclusive and efficient workplace."
Lower back problems account for 66.5% of physical disorders in the automotive industry, according to a 2022 report by the Journal of Surgery and Medicine. Toyota's car unit builds can be as fast as 66 seconds, and the implementation of Movella's motion capture technology helps support shop floor staff in maintaining lifelong health and wellbeing.
"Our partnerships with leaders in the automotive sector represent a significant step forward in the technical analysis of industrial safety practices," said CJ Hoogsteen, VP Sales & Marketing at Movella. "Movella is proud to see its tools used by Toyota to enhance employee safety. We are committed to cultivating a culture of care and responsibility across this industry."
Movella is leading the way in setting new standards for employee health and safety in the automotive sector. With the implementation of the JT/SJT system, Toyota and Movella can work together to create a safer working environment for those on production lines.
About Movella Holdings Inc.
Movella is a leading full-stack provider of sensors, software, and analytics that enable the digitization of movement. Movella serves the entertainment, health & sports, and automation & mobility markets. Our innovations enable customers to capitalize on the value of movement by transforming data into meaningful and actionable insights. Partnering with leading global brands such as Electronic Arts, EPIC Games, 20th Century Studios, Netflix, Toyota, Siemens and over 500 sports organizations, Movella is creating extraordinary outcomes that move humanity forward. To learn more, please visit www.movella.com.
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This press release contains "forward-looking statements" within the meaning of federal securities laws. The words "accelerate," "anticipate," "believe," "continue," "could," "enable," "estimate," "expect," "extend," "fuel," "future," "growth," "intend," "may," "might," "opportunity," "outlook," "plan," "position," "possible," "potential," "predict," "progress," "project," "realize," "see," "seem," "should," "will," "would," and similar expressions, or the negative of such expressions, may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to, statements regarding the following: Movella's management team's expectations, hopes, beliefs, intentions or strategies regarding the future and the company's competitive position; the potential impact of the merger on Movella and its business, including allowing Movella to continue to rapidly scale its business and further invest in market-leading movement capture and digitization solutions; the potential benefits and expectations related to the terms of the FP financing, including but not limited to, the sale of FP-purchased stock and repayment of the note; the ability of Movella's solutions to enable real-time digitized movement in the emerging high-growth areas of the Metaverse, next-generation gaming, live streaming and other applications; the anticipated use of capital raised from the transaction to further scale and grow the business; the belief that Movella's proprietary technology, scalable business model, and experienced leadership team will position Movella to extend its leadership position and continue to deliver innovations that drive the industry; the anticipated or potential features, benefits, and applications for Movella's products and technology and timing thereof; the market opportunity for Movella's products and technology; or other characterizations of future events or circumstances, including any underlying assumptions. These statements are based on the current expectations of Movella's management and are not predictions of actual performance and as such, are provided for illustrative purposes only. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond Movella's control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, the following: (i) failure to realize the anticipated benefits of the merger ; (ii) general economic conditions and Movella's financial performance; (iii) changes adversely affecting the businesses in which Movella is engaged; (iv) Movella's ability to execute on its business strategy and plans and to manage growth; and (v) risks related to regulatory matters, as well as the factors described under the headings "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in the final prospectus filed with the Securities and Exchange Commission (the "SEC") pursuant to Rule 424(b)(3) by Pathfinder on January 17, 2023 and in those documents that Movella will file with the SEC in the future. If any of these risks materialize or the underlying assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Movella presently knows or currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect expectations, plans or forecasts of future events and views as of the date of this press release. Movella anticipates that subsequent events and developments will cause its assessments to change. However, while Movella may elect to update these forward-looking statements at some point in the future, Movella specifically disclaims any obligation to do so, except to the extent required by applicable law. These forward-looking statements should not be relied upon as representing Movella's assessments as of any date subsequent to the date of this press release and are not intended to serve as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Accordingly, undue reliance should not be placed upon the forward-looking statements.
