Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX), an innovator in automotive vision systems, has signed a multiphase cooperation agreement with a leading global electric vehicle (“EV”) original equipment manufacturer (“OEM”) based in China; the company specialized in EVs, rechargeable batteries and other related products. According to the announcement, the agreement calls for the evaluation of Foresight’s 3D perception capabilities for enhancing the manufacturer’s automotive vision solutions. According to the announcement, when the proof-of-concept (“POC”) phase of the agreement is completed, the companies anticipate negotiating a definitive commercial agreement for the joint development, integration and commercialization of Foresight’s technology into the OEM’s automotive vision systems. In addition, the China-based company will “introduce Foresight’s technology to its subsidiaries, customers and partners, presenting Foresight as a business partner and thereby facilitating the relationship between Foresight and the OEM’s partners,” stated the company in the press release.
To view the full press release, visit https://ibn.fm/rZeQC
About Foresight Autonomous Holdings Ltd.
Foresight Autonomous Holdings is a technology company developing smart multispectral vision software solutions and cellular-based applications. Through the company’s wholly owned subsidiaries — Foresight Automotive Ltd., Foresight Changzhou Automotive Ltd. and Eye-Net Mobile Ltd. — Foresight develops both “in-line-of-sight” vision systems and “beyond-line-of-sight” accident-prevention solutions. Foresight vision solutions include modules of automatic calibration and dense three-dimensional (“3D”) point cloud that can be applied to different markets such as automotive, defense, autonomous vehicles and heavy industrial equipment. Eye-Net Mobile’s cellular-based solution suite provides real-time, precollision alerts to enhance road safety and situational awareness for all road users in the urban mobility environment by incorporating cutting-edge AI technology and advanced analytics. For more information, visit the company’s website at www.ForesightAuto.com.
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