Agreement Overview - Foresight and KONEC signed a commercial cooperation agreement to integrate advanced 3D perception solutions into vehicles and machinery in South Korea [10] - The agreement includes exclusive distribution rights for KONEC in South Korea, subject to meeting certain sales targets [1] - The collaboration follows a successful co-development agreement sponsored by Hyundai’s Foundation of Korea Automotive Parts Industry Promotion [2] Strategic Goals - The partnership aims to enhance operational efficiency, improve product quality, and unlock new possibilities in sectors like automotive, agriculture, and heavy machinery [6] - Both parties are considering establishing a joint venture in South Korea to facilitate business cooperation, including setting up a manufacturing factory [3] Market Potential - KONEC forecasts commercial sales of $1.5 million by 2027, with revenues projected to grow up to $7 million by 2029 [14] - The solutions are designed for a wide range of sectors, including passenger vehicles, commercial vehicles, autonomous logistics vehicles, and geofenced autonomous vehicles [10] Company Profiles - KONEC is a leading Tier-One automotive supplier specializing in eco-friendly vehicle parts using high-pressure die-casting processes, with major customers including Tesla, Hyundai Motor, and Kia [5] - Foresight develops smart multi-spectral vision software solutions and cellular-based applications through its subsidiaries, focusing on in-line-of-sight and beyond-line-of-sight accident-prevention solutions [16] Technological Innovation - Foresight’s 3D perception solutions include automatic calibration and dense 3D point cloud modules applicable to automotive, defense, autonomous vehicles, and heavy industrial equipment [8] - Eye-Net Mobile’s cellular-based solution suite provides real-time pre-collision alerts using AI technology and advanced analytics [8] Leadership Statements - Foresight’s CEO highlighted the substantial revenue opportunities and the role in South Korea’s technological leadership [4] - KONEC’s CTO emphasized the agreement’s potential for autonomous driving growth and value creation for stakeholders [6]

Core Viewpoint - Foresight Autonomous Holdings Ltd. has entered a multi-phase agreement with SoftBank Corp. and a leading Japanese vehicle manufacturer to evaluate Eye-Net Mobile's cellular vehicle-to-everything (C-V2X) technology for advanced driver assistance systems, aiming to enhance road safety [1][3]. Group 1: Agreement Details - Eye-Net Mobile is conducting a paid proof of concept (POC) project supported by SoftBank's cellular network infrastructure to explore the integration of its non-line-of-sight collision avoidance solution into future vehicle systems [2][9]. - The initial phase involves evaluating the Eye-Net Sense demonstration kit in standalone mode, with potential subsequent phases focusing on integration into the vehicle manufacturer's infotainment systems [9]. Group 2: Technology and Impact - Eye-Net's solutions provide real-time pre-collision alerts, enhancing road safety and situational awareness for all road users by utilizing advanced AI technology and analytics [5]. - The collaboration aims to protect millions of road users from non-line-of-sight collisions, marking a significant milestone in road safety innovation [3][7]. Group 3: Company Overview - Foresight Autonomous Holdings Ltd. develops smart multi-spectral vision software solutions and cellular-based applications through its subsidiaries, focusing on both in-line-of-sight and beyond-line-of-sight accident-prevention solutions [11].

The parties will collaborate to develop and commercialize advanced  AI-powered parking management solutions to enhance urban parking, making it smarter, more efficient and user-friendly Ness Ziona, Israel, Dec. 04, 2024 (GLOBE NEWSWIRE) -- Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) (“Foresight” or the “Company”), an innovator in 3D perception systems, announced today the signing of a three-way multi-phase strategic cooperation agreement with 7meerkat Ltd. (“7meerkat”), a South Korean company ...

Initially the parties will collaborate to design and commercialize autonomous tractor kits, with plans to expand their offerings into semi- and fully autonomous solutions for the automotive industry Ness Ziona, Israel, Dec. 02, 2024 (GLOBE NEWSWIRE) -- Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) (“Foresight” or the “Company”), an innovator in 3D perception systems, announced today the signing of a three-way multi-phase cooperation agreement with GINT Ltd. (“GINT”), a South Korean company spec ...

NESS ZIONA, Israel, Nov. 29, 2024 (GLOBE NEWSWIRE) -- Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) (“Foresight” or the “Company”), an innovator in automotive vision systems, today reported financial results as of and for the third quarter of 2024.  Q3 and Recent Key Highlights: Foresight announced strategic collaborations and agreements: Announced the supply of advanced systems for SUNWAY-AI’s autonomous logistics vehicles. Entered into an agreement with BuilderX Robotics (“BuilderX”) to enhan ...

The founders of Software République include Dassault Systèmes, Eviden, JC Decaux, Orange, Renault Group, STMicroelectronics and Thales. Software République is engaged in a road safety and mobility project in the metropolitan area of Bordeaux, France in collaboration with Allianz IARD, a leading global insurance company, Bordeaux University, Bordeaux INP, a scientific institution and Keolis Bordeaux Métropole Mobilités, the leading public mobility services provider in Bordeaux. Successful completion of integ ...

Ness Ziona, Israel, Nov. 19, 2024 (GLOBE NEWSWIRE) -- Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) (“Foresight” or the “Company”), an innovator in automotive vision systems, announced that its stereoscopic 3D perception systems would likely comply with the strategic initiative of the impending Trump administration’s recent publicly stated commitment to establish a federal framework for fully self-driving vehicles and make it a top priority for the Department of Transportation. We believe that ...

Foresight’s new sensor kit portfolio, designed for serial production, empowers developers and manufacturers across diverse sectors, including automated special purpose vehicles, warehouse and logistics automation, drones, unmanned aerial vehicles, aviation, and autonomous vehicle applications. Ness Ziona, Israel, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) (“Foresight” or the “Company”), an innovator in automotive vision systems, announced the launch of its a ...

. ● ● Foresight to Present at the LD Micro Main Event XVII October 15, 2024 9:00 AM EDT | Source: LD Micro Ness Ziona, Israel--(Newsfile Corp. - October 15, 2024) - Foresight Autonomous Holdings Ltd. (Nasdaq: FRSX) (TASE: FRSX) ("Foresight" or the "Company"), an innovator in automotive vision systems, today announced that Eli Yoresh, Chief Financial Officer of the Company, and Oren Bar-On, Vice President of Global Operations of the Company and Foresight Changzhou Chief Executive Officer, will present at the ...

Following successful POC project completion, the parties will develop and commercialize AI tele-operations solutions for heavy machinery to improve safety in hazardous industrial environments. Ness Ziona, Israel, Sept. 27, 2024 (GLOBE NEWSWIRE) -- Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) ("Foresight" or the "Company"), an innovator in automotive vision systems, announced today the signing of multi-phase collaboration agreement with BuilderX Inc. ("BuilderX"), a Chinese developer of artific ...