Foresight: Eye-Net Initiates Pilot Project with a Top Global Vehicle Manufacturer
The pilot will be conducted with the
intelligent transport system division of a Japanese vehicle
Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX), an
innovator in automotive vision systems, announced today that its
wholly owned subsidiary, Eye-Net Mobile Ltd., will begin a pilot
project with the intelligent transport system division of a
multi-billion-dollar global Japanese vehicle manufacturer to test
its Eye-Net™ Protect cellular-based V2X (vehicle-to-everything)
accident prevention solution. The pilot project will be used to
validate and evaluate the software development kit (SDK)
configuration of the Eye-Net solution for possible integration into
the vehicle manufacturer’s smart city project.
This is Eye-Net Mobile’s third pilot project in Japan, following
the Company’s announcements last August about two pilot projects
with leading global Japanese technology and electronics companies.
Eye-Net Mobile’s market penetration strategy advocates
concentrating on one geographic region in order to achieve a
critical mass of Eye-Net Protect users in a defined area that could
potentially increase the chances of preventing road accidents and
“This first pilot with a top global vehicle manufacturer opens a
new market for Eye-Net Mobile and demonstrates a need in the
automotive industry for a readily-available software-based solution
that provides real-time pre-collision alerts and enhances the
safety of drivers and other vulnerable road users,” said Dror
Elbaz, COO & Deputy CEO of Eye-Net Mobile.
For more information about Eye-Net Mobile, please visit
www.eyenet-mobile.com, or follow the Company’s LinkedIn page,
Eye-Net Mobile; Twitter, @EyeNetMobile1; and Instagram channel,
Eyenetmobile1, the contents of which are not incorporated into this
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
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 Advanced Driver Assistance Systems (ADAS), 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 about Foresight and its wholly owned
subsidiary, Foresight Automotive, visit www.foresightauto.com, follow @ForesightAuto1 on
Twitter, or join Foresight Automotive on LinkedIn.
This press release contains forward-looking statements within the
meaning of the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995 and other Federal securities laws.
Words such as "expects," "anticipates," "intends," "plans,"
"believes," "seeks," "estimates" and similar expressions or
variations of such words are intended to identify forward-looking
statements. For example, Foresight is using forward-looking
statements in this press release when it discusses the pilot
project with the Japanese vehicle manufacturer, Eye-Net Mobile’s
market penetration strategy and potential new markets. Because such
statements deal with future events and are based on Foresight’s
current expectations, they are subject to various risks and
uncertainties, and actual results, performance or achievements of
Foresight could differ materially from those described in or
implied by the statements in this press release.
The forward-looking statements contained or implied in this
press release are subject to other risks and uncertainties,
including those discussed under the heading "Risk Factors" in
Foresight's annual report on Form 20-F filed with the Securities
and Exchange Commission ("SEC") on March 31, 2020, and in any
subsequent filings with the SEC. Except as otherwise required by
law, Foresight undertakes no obligation to publicly release any
revisions to these forward-looking statements to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events. References and links to websites have been
provided as a convenience, and the information contained on such
websites is not incorporated by reference into this press release.
Foresight is not responsible for the contents of third party
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