Foresight Successfully Completes Project with Prominent Japanese Vehicle Manufacturer
February 05 2024 - 8:30AM
Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX)
(“Foresight” or the “Company”), an innovator in automotive vision
solutions, announced today the successful completion of two proof
of concept (POC) projects with a leading Japanese vehicle
manufacturer, the initiation of these projects was reported by the
Company on August 14, 2023.
The vehicle manufacturer, currently employing
stereo cameras in its advanced driver assistance systems (ADAS),
evaluated the accuracy of Foresight’s unique automatic calibration
capabilities to enhance 3D depth perception. Following satisfactory
results, the parties are exploring co-development initiatives for
further evaluation of the solution's capabilities.
Prospective collaboration may involve
integrating Foresight’s technology into the passenger vehicles of
the manufacturer. This integration has the potential to enhance
precision in distance measurement, as well as improve object
detection and classification, thereby elevating the overall safety
system of the automaker's vehicles.
About Foresight
Foresight Autonomous Holdings Ltd. (Nasdaq and
TASE: FRSX) 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.,
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’s 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
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, follow @ForesightAuto1 on Twitter, or join
Foresight Automotive on LinkedIn.
Forward-Looking Statements
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
that the parties are exploring co-development initiatives for
further evaluation of the solution's capabilities, that the
prospective collaboration may involve incorporating Foresight’s
technology into the passenger vehicles of the vehicle manufacturer
and that this integration has the potential to enhance precision in
distance measurement, as well as improve object detection and
classification, thereby elevating the overall safety system of the
relevant vehicles. 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 30, 2023, 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 websites.
Investor Relations Contact: Miri
Segal-SchariaCEOMS-IR LLCmsegal@ms-ir.com917-607-8654
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