Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX), an innovator in automotive vision systems, has released a letter to shareholders from CEO and chair Haim Siboni. In the letter, Siboni shared significant achievements the company had achieved in 2023 and discussed the company’s strategic focus for 2024. Highlights for the company in 2023 included the company’s latest round of investment, led by substantial insider participation of more than $1.1 million; strategic collaborations with leading Japanese and Chinese vehicle manufacturers; the commercialization agreement with leading defense company Elbit Systems Land Ltd.; and the collaboration agreement with KONEC, a South Korean tier-one supplier for agricultural vehicles. In addition, Siboni cited significant achievements of Eye-Net Mobile Ltd., the company’s wholly owned subsidiary, which included the successful completion of the first phase of a multiphase project with Japanese giant SoftBank Corp. and Eye-Net’s invitation to join the incubation program of Software République, a major European consortium working to deliver an accessible vehicle-to-everything road safety solution for all road users. “At the end of 2023, we made a strategic decision to refocus on strengthening client-facing initiatives in the fields of defense and industrial vehicles and reallocate resources accordingly,” said Foresight Autonomous Holdings CEO and chair Haim Siboni in the letter. “Throughout 2023, we achieved major milestones in our journey towards commercialization, strengthening our position as a key player in the evolving market of 3D perception solutions for semi and fully autonomous vehicles. As we move into 2024, we anticipate a successful year, establishing new partnerships with industry leaders and progressing further on our path towards commercialization.”
To view the full press release, visit https://ibn.fm/FxCPu
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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