Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX), an innovator in automotive vision systems, has inked a multiphase strategic cooperation agreement with China Design Group Co. Ltd. (“CDG”). According to the agreement, CDG, a $1-billion annual revenue Chinese tech company, will leverage its expertise to lead the marketing and sales efforts of the intelligent traffic systems in mainland China and Foresight will oversee these efforts in international territories, including Japan, South Korea, Europe and the United States. Foresight anticipates that this agreement will leverage its 3D-perception technology as well as its Internet of Things (“IoT”), cloud computing and edge computing platforms.
“Foresight’s technology offers a unique combination of long-range sensing, high-resolution point clouds, and cost effectiveness that stands out in the world of automotive perception systems,” said Foresight Asia CEO Oren Bar-On in the press release. “By partnering with CDG, we’re excited to offer a proprietary 3D-perception solution that can be adaptable to a wide range of smart transportation and smart infrastructure applications.”
To view the full press release, visit https://ibn.fm/HS1gA
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.
NOTE TO INVESTORS: The latest news and updates relating to FRSX are available in the company’s newsroom at http://ibn.fm/FRSX
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