Foresight Signs Multi-phase Agreement With Leading Chinese OEM

(RTTNews) - Foresight Autonomous Holdings Ltd. (FRSX) on Thursday announced the signing of a multi-phase cooperation agreement with a leading Chinese original equipment manufacturer (OEM), specializing in EVs, rechargeable batteries, and associated items.

The agreement's initial phase entails a proof of concept (POC) effort to assess Foresight's 3D perception skills, including high-resolution point clouds, object recognition, and disparity maps, in order to see whether they may be improved upon in the hopes of improving the OEM's present automotive vision solution.

The businesses seek to negotiate a binding commercial agreement for the cooperative development, insertion, and commercialization of Foresight's technology into the OEM's automotive vision systems following the successful conclusion of the POC project.

Furthermore, the OEM will introduce Foresight's technology to its subsidiaries as well as customers and partners, presenting Foresight as a business partner and facilitating relationships between Foresight and the OEM's partners.