Automotive technology innovator Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX) this morning announced its entry into a multi-phase technological cooperation agreement with a Chinese Tier One supplier. Under the agreement, Foresight will develop smart mobility solutions for the Chinese automotive industry, specifically for two Chinese vehicle manufacturers (“OEMs”). “I am pleased that our technology has reached a level of maturity allowing us to engage in such agreements,” Foresight CEO Haim Siboni said in the news release. “Working closely with a Tier One supplier will allow us to gain a foothold in the large and growing Chinese market and enable us to make our advanced vision technology available to the local Chinese automotive industry. This agreement will offer us the opportunity to be part of ongoing projects and work directly with OEMs.”
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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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