Foresight Autonomous Subsidiary Signs Collaboration Deal on Advanced Driver Assistance Systems; Shares Rise Pre-Bell

MT Newswires Live2024-12-20

Foresight Autonomous Holdings (FRSX) said Friday its Eye-Net Mobile unit signed a multi-phase agreement with SoftBank and a Japanese vehicle manufacturer for a collaboration on advanced driver assistance systems.

The companies agreed to evaluate the use of Eye-Net's cellular vehicle-to-everything technology in advanced driver assistance systems.

Foresight said Eye-Net is conducting a paid proof-of-concept project, with support from SoftBank's cellular network infrastructure, to explore the integration of the unit's collision avoidance offering into the automaker's vehicle systems in the future.

According to the company, the first phase of the collaboration will assess the Eye-Net Sense demonstration kit. The successful evaluation will lead to the second phase of integrating Eye-Net Sense into the vehicle manufacturer's infotainment systems.

Foresight Autonomous rose more than 20% in recent premarket activity Friday.

Price: 1.11, Change: +0.19, Percent Change: +20.65

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