NetworkNewsBreaks – Foresight Autonomous Holding
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Posted On: 06/26/2018 7:05:30 PM
NetworkNewsBreaks – 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.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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