(NewsDirect)
Foresight AutonomousHoldings Ltd. (Nasdaq and TASE: FRSX) (“Foresight” or the“Company”), an innovator in automotive vision systems, announcedthe signing of an agreement with Hitachi Astemo Americas, Inc.(“Hitachi Astemo”) to test and evaluate autonomous-driving visionsystems (ADAS). Hitachi Astemo is a global Tier One supplier of enginemanagement, electric powertrain and integrated vehicle-control systemsfor the auto industry.
The paid joint proof of concept project (POC) with HitachiAstemo calls for the evaluation and testing of simulated and real-lifeautonomous driving scenarios. The program will pair Foresight QuadSight ® and Mono2Stereo ™technologies with existing Hitachi Astemo camera systems in an effortto improve distance measurement and object detection.
The project with HitachiAstemo follows the successful evaluation of a QuadSight vision systemprototype reported by the Company in March 2021.
Foresight’sproprietary Mono2Stereo software-based solution uses the overlappingviews of existing cameras with different fields of vision to create athree-dimensional stereo-vision system to improve objectdetection.
“Weare excited to be involved in another auto industry POC project,”said Haim Siboni, CEO of Foresight. “Having been chosen by HitachiAstemo, a major supplier of automotive stereo vision systems,underlines the importance of stereoscopic technology in theenhancement of existing ADAS systems and the technology’s ability toamplify their performance, provide better distance accuracy and offermore robust active safety features. Our solutions can be readilydeployed in vehicles equipped with Level 2 and Level 2-plus autonomysystems without requiring additional hardware and design changes. Webelieve that teaming up with Hitachi Astemo could potentially lead tofurther collaboration with other automotive OEMs as well.”
About Hitachi AstemoAmericas, Inc.
Hitachi Astemo Americas, Inc. manufactures and markets enginemanagement, electric powertrain, integrated vehicle control for majorautomotive manufacturers worldwide, adhering to ISO/TS:16949:2009industry standards. Additional information is available at www.hitachiastemo.com
Forward-LookingStatements
This press release contains forward-looking statements withinthe meaning of the "safe harbor" provisions of the PrivateSecurities Litigation Reform Act of 1995 and other Federal securitieslaws. Words such as "expects," "anticipates,""intends," "plans," "believes,""seeks," "estimates" and similar expressions orvariations of such words are intended to identify forward-lookingstatements. For example, Foresight is using forward-looking statementsin this press release when it discusses agreement with Hitachi Astemofor the evaluation and testing of simulated and real-life autonomousdriving scenarios, the belief that being chosen by Hitachi Astemounderlines the importance of stereoscopic technology in theenhancement of existing ADAS systems, and its belief that teaming upwith Hitachi Astemo could potentially lead to further collaborationwith other automotive OEMs as well. Because such statements deal withfuture events and are based on Foresight’s current expectations,they are subject to various risks and uncertainties, and actualresults, performance or achievements of Foresight could differmaterially from those described in or implied by the statements inthis press release.
Theforward-looking statements contained or implied in this press releaseare subject to other risks and uncertainties, including thosediscussed under the heading "Risk Factors" in Foresight'sannual report on Form 20-F filed with the Securities and ExchangeCommission ("SEC") on March 31, 2022, and in any subsequentfilings with the SEC. Except as otherwise required by law, Foresightundertakes no obligation to publicly release any revisions to theseforward-looking statements to reflect events or circumstances afterthe 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 byreference into this press release. Foresight is not responsible forthe contents of third party websites.
AboutForesight
Foresight Autonomous Holdings Ltd. (Nasdaq andTASE: FRSX) is a technology company developing smart multi-spectralvision software solutions and cellular-based applications. Through theCompany’s wholly owned subsidiaries, Foresight Automotive Ltd.,Foresight Changzhou Automotive Ltd. and Eye-Net Mobile Ltd., Foresightdevelops both “in-line-of-sight” vision systems and“beyond-line-of-sight” accident-prevention solutions.
Foresight’s vision solutions include modules of automaticcalibration and dense three-dimensional (3D) point cloud that can beapplied to different markets such as automotive, defense, autonomousvehicles and heavy industrial equipment. Eye-Net Mobile’scellular-based solution suite provides real-time pre-collision alertsto enhance road safety and situational awareness for all road users inthe urban mobility environment by incorporating cutting-edge AItechnology and advanced analytics.
For more information aboutForesight and its wholly owned subsidiary, Foresight Automotive, visit www.foresightauto.com ,follow onTwitter, or join on LinkedIn.
ContactDetails
Investor Relations Contact:
MiriSegal-Scharia, CEO, MS-IR LLC
+1 917-607-8654
CompanyWebsite
https://www.foresightauto.com/
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