Benzinga | Jul 27, 2020 08:10AM EDT

Foresight Receives Order From 'Leading Multi-Billion Dollar Global Chinese Technology Company'

The technology company purchased two QuadSight(r) prototype systems for its automotive solutions business unit

Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX), an innovator in automotive vision systems, announced today the sale of two prototypes of its QuadSight(r) four-camera vision system to the automotive solutions business unit of a multi-billion dollar Chinese technology company.

Foresight's advanced technology may allow the automotive solutions business unit to improve its offering for autonomous cars and safety solutions, ranging from advanced driver assistance systems (ADAS) to fully autonomous vehicles, and may lead to future co-development projects.

"Information and technology companies want to help vehicle manufacturers produce better cars. Our unique obstacle detection capabilities enable safe uninterrupted driving, regardless of the environmental and weather conditions," said Haim Siboni, CEO of Foresight. "We believe that successful evaluation of the prototype systems may lead to future activities with the leading global technology company, allowing us to expand our presence in the Chinese market and pursue new opportunities."

As semi- and fully-autonomous vehicles transition from labs to roads, vehicle manufacturers and an increasing number of technology companies seek to make the roads a safer place for driverless cars by gathering data on the roads people use and how they drive. The QuadSight vision system provides highly accurate vision sensors that detect any obstacle and enable safe driving at all times in challenging weather.