Shandong Institute, Beidou Tech, Foresight collaborate on obstacle detection and intelligent navigation based on multi-sensor fusion

Ness Ziona, Israel – News Direct – July 12, 2022 – Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) (“Foresight” or “Company”), an innovator of automotive vision systems, is today at the Shandong Institute of Technology. Understanding between Shandong Industrial Research Information Artificial Intelligence Research Institute (hereinafter referred to as “Shandong Research Institute”) and Kitado Keichu Technology (Shandong) Co., Ltd., which is a specialized research institute wholly owned by Israel (MOU). Hokudou Tech Co., Ltd. (“Hokudou Tech”) is a company mainly engaged in research on high-precision seamless positioning, real-time accurate reproduction of scene targets, and control of scene target position.

MOU establishes collaborative development of automatic guided vehicle obstacle detection system based on multi-sensor fusion and all-weather precision positioning. The new system combines Foresight’s stereoscopic technology (using both visible and thermal cameras), radar, laser scanning technology LiDAR, and BeidouTech’s vehicle navigation and positioning system. The jointly created system aims to provide automakers with smart transportation, active safety vehicle systems, and multi-sensor intelligent navigation for deployment in unmanned driving. The resulting system is intended for use in self-driving cars, trucks, passenger cars, and other vehicles in Shandong Province, China.

In addition, Chinese political parties have applied for state approval and financial support to undertake the project or otherwise proceed. Meanwhile, the parties will develop the above system and negotiate a final agreement to establish a joint venture in Shandong Province.

This memorandum supports our strategy to expand our presence in China and become a dominant player in the Asia Pacific automotive market, following several projects in China reported by Foresight over the past year. doing.

Hashtag: #Foresight

Foresight

Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) is a technology company that develops smart multispectral vision software solutions and cellular-based applications. Foresight develops both “in-line” vision systems and “out-of-line” accidents through our wholly owned subsidiaries Foresight Automotive Ltd., Foresight Changzhou Automotive Ltd. and Eye-Net Mobile Ltd. -Preventive solution.

Foresight’s vision solutions include modules for auto-calibration and a high-density three-dimensional (3D) point cloud that can be applied to a variety of markets such as automotive, defense, self-driving cars, and heavy industry equipment. Eye-Net Mobile’s cellular-based solution suite provides real-time pre-collision alerts and incorporates state-of-the-art AI technology and advanced analytics to ensure traffic safety and status for all road users in an urban mobility environment. Strengthen awareness.

For more information on Foresight and its wholly owned subsidiary Foresight Automotive, please visit: www.foresightauto.comfollow @ ForesightAuto1 On Twitter or join Foresight Automotive on LinkedIn.

Description of future prospects

This press release contains forward-looking statements within the meaning of the “safe harbor” clause of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Words such as “expect”, “expect”, “intention”, “plan”, “believe”, “seek”, “estimate”, and similar expressions or variations of such words are in the future. The purpose is to identify a statement about the outlook for. For example, in this press release, Foresight looks forward to discussing the joint development of an obstacle detection system and the all-weather precision positioning of automated guided vehicles based on the system’s intended design, multi-sensor fusion. I am using the description about. The system is intended for integration into Shandong’s self-driving cars, trucks, passenger cars, and other vehicles, and Chinese parties will apply for Shandong’s financial assistance and promote joint development. The parties will negotiate a final agreement to develop the above system and will establish a joint venture in Shandong Province. Since such statements deal with future events and are based on Foresight’s current expectations, there are various risks and uncertainties, and Foresight’s actual results, performance, or outcomes are in this press release. It may differ materially from what is stated or implied in the description.

A statement about the future outlook contained or implied in this press release is under the “Risk Factors” heading of Foresight’s annual report on Form 20-F submitted to the Securities and Exchange Commission (“SEC”). Affected by other risks and uncertainties, including those described. ) March 31, 2022, and subsequent submissions to the SEC. Unless otherwise required by law, Foresight publishes revisions to these forward-looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unexpected events. We shall not be obliged to announce to. References and links to websites are provided for convenience and the information contained on such websites is not incorporated into this press release by reference. Foresight is not responsible for the content of third party websites.

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