Neonode Soars 20% Amid Twitter Discussions, New Technology

Shares of Neonode, Inc NEON spiked up over 20 percent Tuesday amid discussions on Twitter about the company’s upcoming technology introduction at the CES in Las Vegas.

According to a December 18 press release from the company, Autoliv and Neonode will introduce the first joint concept “zForce DRIVE – Active Sensor Steering Wheel,” which is based on Neonode zForce AIR technology.

The new technology provides a light-based “touchless touch” sensing with visual guidance eliminating the need for the driver to move the hands off the wheel while interacting with the car. It will also replace mechanical switches and allows the car to know where the driver’s hands are placed on the wheel.

“Neonode’s strength in innovative user interfaces, based on its proprietary optical technology, creates a joint opportunity to lead the industry towards a more powerful and innovative way to interact with automobile systems. We are delighted to work with Autoliv. Together we can create a safer and more enjoyable interaction in the driving environment,” says Thomas Eriksson, CEO at Neonode.

Shares of Neonode recently traded at $3.00, up 18.58 percent.