NetworkNewsBreaks – Foresight Autonomous Holding
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Posted On: 12/11/2020 4:28:20 PM
NetworkNewsBreaks – Foresight Autonomous Holdings Ltd.’s (NASDAQ: FRSX) (TASE: FRSX) Rail Vision to Enter Multibillion Global Light Rail Market
Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX), an innovator in automotive vision systems, today announced that its affiliate, Rail Vision Ltd., has received an order from Knorr-Bremse Systeme für Schienenfahrzeuge GmbH, an affiliate of Knorr-Bremse AG (Frankfurt: KBX), for two samples of the light rail vehicle (“LRV”) system. In addition, Knorr-Bremse has ordered customization, according to Knorr-Bremse’s requirements, of Rail Vision’s LRV system. According to Global Industry Research, the global market for light rail is estimated at $8.6 billion in 2020 and projected to reach $10.8 billion by 2027. “Knorr-Bremse continues to show its vote of confidence in Rail Vision’s unique technology, as this project follows Knorr-Bremse’s previous investments in the company,” said Haim Siboni, CEO of Foresight. “Rail Vision has developed a solution to address the challenges of the growing LRV market, and we believe that this commercial cooperation suggests that there may be potential for long-term growth for Rail Vision’s business.”
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), an innovator in automotive vision systems, today announced that its affiliate, Rail Vision Ltd., has received an order from Knorr-Bremse Systeme für Schienenfahrzeuge GmbH, an affiliate of Knorr-Bremse AG (Frankfurt: KBX), for two samples of the light rail vehicle (“LRV”) system. In addition, Knorr-Bremse has ordered customization, according to Knorr-Bremse’s requirements, of Rail Vision’s LRV system. According to Global Industry Research, the global market for light rail is estimated at $8.6 billion in 2020 and projected to reach $10.8 billion by 2027. “Knorr-Bremse continues to show its vote of confidence in Rail Vision’s unique technology, as this project follows Knorr-Bremse’s previous investments in the company,” said Haim Siboni, CEO of Foresight. “Rail Vision has developed a solution to address the challenges of the growing LRV market, and we believe that this commercial cooperation suggests that there may be potential for long-term growth for Rail Vision’s business.”
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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