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.”
To view the full press release, visit http://ibn.fm/yjNn6
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.
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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