Foresight Collaborates with Higer Bus Company and Xi’an Jiaotong-Liverpool University to Enhance Autonomous Bus Perception
July 29 2024 - 8:45AM
Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX)
(“Foresight” or the “Company”), an innovator in automotive vision
systems, announced today the signing of an agreement for a paid
proof of concept (POC) project with Xi’an Jiaotong-Liverpool
University (“XJTLU”), China’s largest Sino-foreign cooperative
university. The project aims to install and integrate Foresight’s
QuadSight® technology into Higer Bus Company Limited (“Higer”)
autonomous buses.
The project scope is to jointly develop advanced
multi-sensor perception fusion and visualization modeling
technology specifically designed for autonomous driving
applications. The technology will be initially implemented on
Higer's autonomous electric buses. Foresight’s QuadSight 3D
perception capabilities, combining visible-light and thermal
cameras, will be used to accurately detect objects surrounding the
vehicle in challenging environmental and weather conditions.
“Our collaboration with XJTLU and Higer
represents a unique opportunity to accelerate the development of
autonomous bus technology for both European and Asian markets,
addressing critical safety and performance challenges in public
transportation,” said Oren Bar-On, CEO of Foresight Asia. “By
combining Foresight’s advanced perception technology with their
respective strengths in academia and automotive manufacturing, we
aim to develop safe and reliable autonomous bus solutions that can
adapt to the unique challenges of both European and Asian urban
environments.”
About Higer Bus CompanyHiger
Bus Company Limited was established in 1998 and is commonly known
as 'Suzhou Jinlong'. With annual sales exceeding ten billion CNY,
Higer buses operate across more than 130 countries and regions
worldwide, paving a sustainable path for rapid development. The
company has been listed among the 'Top 500 Most Valuable Brands in
China' for 16 consecutive years and has become a national
automobile whole vehicle export base enterprise and one of China's
Top 100 Enterprise Information Technology companies.
About Xi'an
Jiaotong-Liverpool UniversityXi'an Jiaotong-Liverpool
University (XJTLU) is an international university established in
May 2006 through the partnership among Xi'an Jiaotong University
and the University of Liverpool. XJTLU is currently the largest
Sino-foreign cooperative university in China. The university offers
48 undergraduate programs, 48 master's programs, and 17 doctoral
research programs. It has nearly 2,300 staff members and over
25,000 students.
About Foresight Foresight
Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) 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, follow @ForesightAuto1 on Twitter, or join
Foresight Automotive on LinkedIn.
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, Foresight is using forward-looking
statements in this press release when it discusses the aims and
scope of the POC, that Foresight’s collaboration with XJTLU and
Higer represents a unique opportunity to accelerate the development
of autonomous bus technology for both European and Asian markets,
and its aim to develop safe and reliable autonomous bus solutions
that can adapt to the unique challenges of both European and Asian
urban environments. 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 annual report on Form 20-F for the fiscal
year ended December 31, 2023 filed with the Securities and Exchange
Commission ("SEC") on March 27, 2024, 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. References and links to websites have been provided as a
convenience, and the information contained on such websites is not
incorporated by reference into this press release. Foresight is not
responsible for the contents of third-party websites.
Investor Relations Contact:
Miri Segal-Scharia CEOMS-IR LLC msegal@ms-ir.com917-607-8654
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