Foresight Successfully Completes a Pilot Project with One of China's Top Three Largest Car Manufacturers
September 11 2017 - 1:45AM
Business Wire
Foresight Autonomous Holdings Ltd., a leading developer of
Advanced Driver Assistance Systems (NASDAQ and TASE:
FRSX), announced today that following its announcement about an
agreement with one of China's top three largest car manufacturers
for a pilot project to test its Eyes-OnTM advanced driver
assistance system, the company has successfully completed the
project and met the pre-defined requirements and criteria set for
its success.
Eyes-On™ was tested in controlled and uncontrolled environments,
in varying speeds and against both predefined and incidental
targets.
The parties have agreed to examine possible directions for
commercial cooperation over the next few months.
About Foresight
Foresight (and NASDAQ and TASE: FRSX), founded in 2015, is a
technology company engaged in the design, development and
commercialization of Advanced Driver Assistance Systems (ADAS)
based on 3D video analysis, advanced algorithms for image
processing and artificial intelligence. The company, through its
wholly owned subsidiary, develops advanced systems for accident
prevention, which are designed to provide real-time information
about the vehicle's surroundings while in motion. The systems are
designed to alert drivers to threats that might cause accidents,
resulting from traffic violations, driver fatigue or lack of
concentration, etc., and to enable highly accurate and reliable
threat detection while ensuring the lowest rates of false alerts.
The company estimates that its systems will revolutionize ADAS by
providing an automotive grade, cost-effective platform, and
advanced technology.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995 and other Federal
securities laws. Words such as "expects," "anticipates," "intends,"
"plans," "believes," "seeks," "estimates" and similar expressions
or variations of such words are intended to identify
forward-looking statements. For example, when Foresight describes
that the parties will examine possible directions for commercial
cooperation over the next few months, it is using forward-looking
statements. Because such statements deal with future events and are
based on Foresight’s current expectations, they are subject to
various risks and uncertainties and actual results, performance or
achievements of Foresight could differ materially from those
described in or implied by the statements in this press
release.
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
Foresight's registration statement on Form 20-F filed with the
Securities and Exchange Commission ("SEC") on June 1, 2017, and in
any subsequent filings with the SEC. Except as otherwise required
by law, Foresight undertakes no obligation to publicly release any
revisions to these forward-looking statements to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170910005072/en/
Foresight Autonomous Holdings Ltd.CONTACT INVESTOR
RELATIONS:Miri Segal-Scharia, 917-607-8654CEOMS-IR
LLCmsegal@ms-ir.com
Foresight Autonomous (NASDAQ:FRSX)
Historical Stock Chart
From Mar 2024 to Apr 2024
Foresight Autonomous (NASDAQ:FRSX)
Historical Stock Chart
From Apr 2023 to Apr 2024