Foresight Autonomous Holdings, a developer of automotive vision systems, has signed a multi-phase technological agreement with a Tier 1 supplier to develop smart mobility solutions for two Chinese vehicle manufacturers (OEMs).
According to the agreement, Foresight will collaborate with the Tier 1 supplier to design, develop and commercialize automatic safety solutions to be implemented in the vehicles of the Chinese OEMs. The Tier 1 supplier is currently involved in several projects with the Chinese OEMs for the integration of autonomous functions. The cooperation agreement may enable Foresight to integrate its QuadSight vision system into these existing projects.
The Tier 1 supplier will purchase a prototype of the QuadSight system for evaluation of the system’s capabilities and suitability for the projects. Based on the results of the evaluation of the system and technology, as well as the specific requirements of the Chinese OEMs, the Tier 1 supplier will formulate a detailed scope of work for development of a specific project integrating the QuadSight vision system.
“I am pleased that our technology has reached a level of maturity allowing us to engage in such agreements,” said Haim Siboni, CEO of Foresight. “Working closely with a Tier 1 supplier will allow us to gain a foothold in the large and growing Chinese market and enable us to make our advanced vision technology available to the local Chinese automotive industry. This agreement will offer us the opportunity to be part of ongoing projects and work directly with OEMs.”
