Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX), an innovator in automotive vision systems, today announced its entry into a co-development collaboration agreement with leading Korean tier one automotive supplier KONEC Co. Ltd., sponsored by the Foundation of Korea Automotive Parts Industry Promotion (“KAP”), founded by Hyundai Motor Group. The collaboration leverages KONEC’S expertise in developing advanced automotive systems with KAP’s mission to foster innovation within the automobile parts industry and intends to integrate Foresight’s ScaleCam(TM) 3D perception technology into a conceptual autonomous driving vehicle. “We believe that the collaboration with KONEC represents a significant step forward in the development of next-generation autonomous driving solutions,” said Haim Siboni, CEO at Foresight. “By combining our resources, image processing expertise and innovative technologies, we aim to accelerate the development and deployment of autonomous vehicles, ultimately contributing to safer transportation solutions in the Republic of 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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