Tuesday, June 26, 2018

MissionIRNewsBreaks – Foresight Autonomous Holdings Ltd. (NASDAQ: FRSX) (TASE: FRSX) Inks MOU with Vehicle Importer in Israel


Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX) this morning said that it has signed a non-binding memorandum of understanding (“MOU”) with a direct importer of several leading vehicle manufacturers to Israel. The MOU covers the terms of an agreement for the sale of Foresight’s advanced driver assistance system (“ADAS”), the Eyes-On™ system, for aftermarket configuration and integration into the importer’s vehicles in Israel. Once a binding agreement is signed, a pilot project will begin, using a beta version of the Eyes-On™ system to integrate into a number of models from the importer’s fleet of vehicles. The binding agreement is expected to specify the terms under which Foresight will provide the importer with the Eyes-On™ system, following successful completion of the pilot test based on predetermined criteria. The importer estimates that its purchasing potential is roughly 21,000 systems over a period of three years.

To view the full press release, visit http://ibn.fm/zn1UM

About Foresight

Foresight Autonomous Holdings Ltd. (NASDAQ and TASE: FRSX), founded in 2015, is a technology company engaged in the design, development and commercialization of stereo/quad-camera vision systems and V2X cellular-based solutions for the automotive industry. Foresight’s vision systems are based on 3D video analysis, advanced algorithms for image processing and sensor fusion. The company, through its wholly owned subsidiary Foresight Automotive Ltd., 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 improve driving safety by enabling highly accurate and reliable threat detection while ensuring the lowest rates of false alerts. The company’s systems are targeting the Advanced Driver Assistance Systems (ADAS), semi-autonomous and autonomous vehicle markets. The company estimates that its systems will revolutionize automotive safety by providing an automotive-grade, cost-effective platform and advanced technology. For more information, visit the company’s website at www.ForesightAuto.com.

About MissionIRNewsBreaks

MissionIRNewsBreaks provide a rapid summary of corporate news that catch the attention of MissionIR. MissionIRNewsBreaks are created by our Team of professional journalists that keep a constant eye on the markets, these posts are designed to inform you on the latest happenings of our clients and other publicly traded companies on our radar. From earnings, acquisitions and agreements to conference attendance and clinical study results, our news breaks keep you up-to-date with the day’s top movers. MissionIR is primarily focused on strategic communications. We have executed countless communications programs to address the needs of companies ranging from start-ups to established industry leaders, gaining valuable experience and the expertise necessary to determine the most effective strategy for any given situation.

MissionIR (MIR)
Atlanta, Georgia
www.MissionIR.com
404.941.8975 Office
Editor@MissionIR.com

Please see full terms of use and disclaimers on the Mission Investor Relations website applicable to all content provided by MIR, wherever published or re-published: http://www.missionir.com/disclaimer.html