Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX), an innovator in automotive vision systems, today announced the signing of a multiphase business cooperation agreement with SUNWAY-AI Technology (Changzhou) Co. Ltd. (“SUNWAY”), a global Chinese manufacturer of autonomous and unmanned intelligent vehicle products. According to the update, the first phase will consist of a proof of concept (“POC”) project in which SUNWAY will test the QuadSight(R) vision prototype system and evaluate Foresight’s technology and its further potential integration into SUNWAY’s products and services. “This cooperation agreement in China with SUNWAY, a leading automotive-related manufacturer and integrator, opens the door to the growing market of automated machines and autonomous agriculture,” said Foresight CEO Haim Siboni in the news release. “This opportunity has the potential to enhance our footprint in the Chinese market by expanding our solution offerings. Our advanced 3D vision technologies, and particularly our thermal stereo vision system, address detection challenges that are caused by dust and fertilizer particles, harsh weather and lighting conditions, potentially bringing added value to automated machines and autonomous agriculture.”
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About Foresight Autonomous Holdings Ltd.
Foresight is a technology company developing smart multispectral vision software solutions and cellular-based applications. 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” accident-prevention solutions. Foresight’s vision solutions include modules of automatic calibration, sensor fusion and dense 3D point cloud that can be applied to diverse 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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