Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX), an innovator in automotive vision, reported that its wholly owned subsidiary Foresight Changzhou Automotive Ltd. has been honored with the Outstanding Enterprise in International Cooperation award; the award is presented by China Israel Changzhou Innovation Park, Jiangsu Province (the “CICP”). The recognition was announced at the CICP’s 2023 work mobilization conference, held in January. Foresight Changzhou was one of five companies to receive the award. The CICP is the first innovation demonstration park signed by the Chinese and Israeli governments and has been recognized by the National Development and Reform Commission of China as a key area of China-Israeli high-tech industrial cooperation. “We are honored to have been recognized by the CICP for our hard work and efforts,” said Foresight Changzhou CEO Oren Bar-On, CEO of Foresight Changzhou. “Over the last year, we have signed a commercial agreement with Sunway-AI and have engaged with several new potential customers. Last year also marked the 30th anniversary of the establishment of diplomatic relations between China and Israel. As we speak, the negotiation of the China-Israeli Free Trade Agreement is under way. We are expecting its imminent conclusion, which will hopefully bring more opportunities to the automotive industry. Since COVID control measures have been relaxed and flights have been resuming in China, Foresight will continue to lead innovation cooperation between Israel and China and intends to expand activity in this region.”
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About Foresight Autonomous Holdings Ltd.
Foresight Autonomous Holdings is a technology company developing smart multispectral 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, precollision 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, visit the company’s website at www.ForesightAuto.com.
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