Automotive technology innovator Foresight Autonomous Holdings Ltd. (NASDAQ: FRSX) (TASE: FRSX) this morning announced an additional sale of a prototype of its QuadSight(TM) four-camera vision system targeted for the semi-autonomous and autonomous vehicle market. According to the update, the American division of a leading South Korean vehicle manufacturer ordered the prototype system, for which tens of thousands in sales revenue is expected. This prototype system sale is the second resulting from the July 2019 demonstrations carried out in the Silicon Valley and Detroit. The sales validate Foresight’s strategy to perform real-time demonstrations of the QuadSight system to vehicle manufacturers and Tier One suppliers.
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About Foresight Autonomous Holdings Ltd.
Foresight Autonomous Holdings Ltd., 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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