Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX), an innovator in automotive vision systems, today announced the sale of a prototype of its QuadSight(R) four-camera vision system to a leading, multi-billion dollar European Tier One supplier of subsystems for rail and commercial vehicles. According to the update, the sale followed successful live technological demonstrations in Germany. “In 2019, Foresight identified the commercial vehicle industry as a new market suitable for the Company’s unique technology. Autonomous trucks require obstacle detection capabilities in harsh weather to enable uninterrupted service throughout the day, regardless of the environmental conditions,” Foresight CEO Haim Siboni stated in the news release. “We believe that this prototype sale may lead to future co-development projects and, ultimately, to integration of the QuadSight technology into the self-driving trucks being developed by the Tier One supplier with leading vehicle manufacturers. Entering this new market will allow us to expand and improve our current product capabilities and open new opportunities.”
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About Foresight
Foresight Autonomous Holdings Ltd. (NASDAQ and TASE: FRSX), 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.
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