NetworkNewsBreaks – Foresight Autonomous Holding

NetworkNewsBreaks – Foresight Autonomous Holdings Ltd. (NASDAQ: FRSX) (TASE: FRSX) Receives Another QuadSight™ Prototype Order

Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX) this morning announced that a leading global Chinese electric vehicle manufacturer has submitted an order to purchase a prototype of the company’s breakthrough QuadSight™ quad-camera vision system. The manufacturer intends to evaluate the system and its performance with its current electric vehicles for potential integration of QuadSight™ into its future autonomous electric vehicles upon successful testing. QuadSight™ prototype sales enable Foresight to collect important customer feedback and gain a deeper understanding of each customer’s main requirements. The company believes that further evaluation of its technology by potential customers can lead to future collaborations in research and development, integration and commercialization of the system. Revenue from the prototype system sale is anticipated to total tens of thousands of dollars. “With China expected to be the largest market for electric vehicles for at least the next five to seven years, and as analysts at Boston Consulting Group predict that more than five million conventional cars per year could be replaced by fully or semi-autonomous electric vehicles, we feel that our QuadSight™ system is well suited for the evolving Chinese electric vehicle market,” Foresight’s VP of Business Development, Doron Cohadier stated in the news release.

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