Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX), an innovator in automotive vision systems, and its wholly owned subsidiary Eye-Net Mobile Ltd., have entered into a multiphase agreement for a paid proof of concept (“POC”) project with SoftBank Corp. and a Japanese vehicle manufacturer. According to the agreement, the companies are working together to assess Eye-Net’s technology as a potential advanced driver assistance systems (“ADAS”) option for the manufacturer’s vehicles with SoftBank providing the required cellular network infrastructure and support for the project. The multiphase project will begin later this year, with the initial phase involving an evaluation of Eye-Net(TM) Sense demonstration kit in a standalone mode; subsequent phases may follow, depending on successful results. “This agreement marks a significant advancement for Eye-Net and an additional initiative in Japan’s automotive sector aimed at significantly improving road safety,” said Eye-Net Mobile CEO Dror Elbaz in the press release. “By combining SoftBank’s extensive network of partners and large user base with the vehicle manufacturer’s widespread driver and vehicle presence, Eye-Net holds the potential to protect millions of road users across the country from non-line-of-sight collisions.”
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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 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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