Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX), an innovator in automotive vision systems, has announced its entry into a multi-phase cooperation agreement with a leading global electric vehicle (“EV”) Chinese original equipment manufacturer (“OEM”), specializing in EVs, rechargeable batteries and related products. The agreement’s first phase consists of a proof of concept (“POC”) project to evaluate Foresight’s 3D perception capabilities, including high resolution point cloud, object detection and disparity map, for possible enhancement of the OEM’s current automotive vision solution. Upon successful completion of the POC project, the parties intend to negotiate a definitive agreement for the joint development, integration and commercialization of Foresight’s technology into the OEM’s automotive vision systems. “By potentially integrating our cutting-edge 3D perception solutions into the products of such a global OEM EV leader, we are ready to help take stereo vision systems to the next level, setting new benchmarks for safety and innovation in the industry,” said Haim Siboni, CEO of Foresight.
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About Foresight Autonomous Holdings Ltd.
Foresight is a technology company developing smart multi-spectral 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’s 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 pre-collision 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 about Foresight and its wholly owned subsidiary, Foresight Automotive, visit www.ForesightAuto.com.
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