Foresight: Eye-Net Successfully Completes First Pilot Phase with a Top Global Vehicle Manufacturer
Summary
NESS ZIONA, Israel--(BUSINESS WIRE)--Foresight Autonomous Holdings Ltd. (NASDAQ and TASE: FRSX), an innovator in automotive vision, announced today that its wholly owned subsidiary, Eye-Net Mobile Ltd., successfully completed the first phase of a pilot project with the intelligent transport system division of a multi-billion-dollar global Japanese vehicle manufacturer. The vehicle manufacturer reviewed the performance of the Eye-Net™ Protect accident prevention solution and subsequently concluded it is a valid option for the safety traffic system of its smart city project. We look forward to completing the next steps defined by the vehicle manufacturer and possibly integrating the Eye-Net technology into the Japanese smart city project. Foresight’s vision solutions include modules of automatic calibration, sensor fusion and dense 3D point cloud that can be applied to different markets such as automotive, defense, autonomous vehicles and heavy industrial equipment. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading "Risk Factors" in Foresights annual report on Form 20-F filed with the Securities and Exchange Commission ("SEC") on March 31, 2020, and in any subsequent filings with the SEC.