Foresight Successfully Completes Another Pilot Project with a Leading Chinese Car Manufacturer
September 18 2017 - 1:45AM
Business Wire
Foresight Autonomous Holdings Ltd., a leading developer of
Advanced Driver Assistance Systems (NASDAQ and TASE:
FRSX), announced today that the company has successfully
completed an additional pilot project with a leading Chinese car
manufacturer and met the pre-defined requirements and criteria set
for its success.
This is the third successful pilot project accomplished with top
Chinese manufacturers.
The company’s Eyes-On™ system 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.
Foresight CEO, Mr. Haim Siboni, said “We continue our
strategy to increase awareness of our potentially life-saving
technology among car manufacturers. This is our third successful
pilot project with top manufacturers in China. The successful
results we have achieved in the different pilots demonstrate the
uniqueness of the company's technology and we intend to further
expand our exposure and reach additional manufacturers.”
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, and that it intends to
further expand its exposure and reach additional manufacturers, 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20170917005045/en/
INVESTOR RELATIONS:MS-IR LLCMiri Segal-Scharia,
917-607-8654CEOmsegal@ms-ir.com
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