NetworkNewsBreaks – Foresight Autonomous Holdings Ltd. (NASDAQ: FRSX) (TASE: FRSX) Enters Strategic Agreement with Leading Chinese Infrared Camera Manufacturer
Sep 13, 2019
Automotive technology innovator Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX) this morning announced its entry into a strategic cooperation agreement with Wuhan Guide Infrared Co. Ltd. (002414.SZ), a $2.7 billion Chinese corporation traded on the Shenzhen Stock Exchange. Under the agreement, the parties will cooperate in the development, marketing and distribution of Foresight’s QuadSight(TM) vision system while incorporating Guide Infrared’s solutions to potential customers in Greater China. “We are very excited to announce our strategic cooperation with Guide Infrared, China’s largest producer of infrared detectors,” Foresight CEO Haim Siboni said in the news release. “This collaboration will allow us to benefit from Guide Infrared’s widely deployed distribution channels and will open new markets and opportunities, making our advanced vision technology available to the local Chinese automotive industry.”
To view the full press release, visit http://nnw.fm/BWh6Z
About Foresight Autonomous Holdings Ltd.
Foresight Autonomous Holdings, 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.
NOTE TO INVESTORS: The latest news and updates relating to FRSX are available in the company’s newsroom at http://nnw.fm/FRSX
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