Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX), an innovator in automotive vision systems, today announced the successful completion of a feasibility testing phase with a leading European passenger car manufacturer. According to the update, this marks the first phase of the joint proof of concept (“POC”) project reported by the company on May 28, 2021. Completion of the first phase amounts to $40,000 out of total expected revenue of $120,000. Expected completion of the POC project is in the fourth quarter of 2021. The project aims to test the ability of Foresight’s stereoscopic technology to enhance the European vehicle manufacturer’s existing mono camera-based safety systems, which may allow the European vehicle manufacturer to take existing safety systems to the next level of autonomy. The project’s second phase will consist of real-life testing. Following successful completion of the project and subject to its satisfactory outcome, the European vehicle manufacturer may consider integrating Foresight’s solutions into its vehicle safety applications.
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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. 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 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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