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.
To view the full press release, visit http://ibn.fm/e1ne7
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
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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