Automotive technology innovator Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX) this morning announced financial results for the second quarter and first half of 2019. “Foresight achieved multiple major milestones during the second quarter,” Foresight CEO Haim Siboni said in the news release. “We signed our first commercial agreement with Elbit Systems, which demonstrates our progress and the endorsement of QuadSight(TM) by leading global companies. The agreement with Elbit is a testament to the quality of our technology, as Elbit performed rigorous testing before making their choice. In addition, we signed an agreement with a Chinese Tier One automotive supplier to design, develop and commercialize automatic safety solutions for the vehicles of Chinese vehicle manufacturers (OEMs), which may pave the way for further collaboration with the growing Chinese auto industry.”
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About Foresight Autonomous Holdings Ltd.
Foresight Autonomous Holdings, founded in 2015, is a technology company engaged in the design, development and commercialization of sensors systems for the automotive industry. Through the company’s wholly owned subsidiaries, Foresight Automotive Ltd. and Eye-Net Mobile Ltd., Foresight develops both “in-line-of-sight” vision systems and “beyond-line-of-sight” cellular-based applications. Foresight’s vision sensor is a four-camera system based on 3D video analysis, advanced algorithms for image processing, and sensor fusion. Eye-Net Mobile’s cellular-based application is a V2X (vehicle-to-everything) accident prevention solution based on real-time spatial analysis of clients’ movement. The company’s systems are designed to improve driving safety by enabling highly accurate and reliable threat detection while ensuring the lowest rates of false alerts. Foresight is targeting the semi-autonomous and autonomous vehicle markets and predicts that its systems will revolutionize automotive safety by providing an automotive-grade, cost-effective platform and advanced technology. For more information, visit the company’s website at www.ForesightAuto.com.
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