Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX), an innovator in automotive vision systems, today announced its entry into the growing South Korean automotive market by signing a memorandum of understanding (“MOU”) for cooperation with KONEC Co. Ltd., a leading automotive supplier. Under the MOU, the companies will collaborate on developing advanced driver assistance systems (“ADAS”) and autonomous driving solutions, expanding KONEC’s product offering to global customers including Hyundai, Tesla and Magna. “We are thrilled by the positive response our technology received in South Korea,” said Haim Siboni, CEO of Foresight. “Cooperating with KONEC and entering the South Korean automotive market are significant milestones for Foresight, and we look forward to establishing long-lasting partnerships and contributing to the advancement of automotive vision systems in South Korea.”
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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., 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.
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