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.”
To view the full press release, visit https://ibn.fm/6PYYA
About Foresight Autonomous Holdings Ltd.
Foresight, founded in 2015, is a technology company engaged in the design, development and commercialization of sensors systems for the automotive industry. Through the company’s wholly owned subsidiaries, Foresight Automotive Ltd. and Eye-Net Mobile Ltd., Foresight develops both “in-line-of sight” vision systems and “beyond-line-of-sight” cellular-based applications. Foresight’s vision sensor is a four-camera system based on 3D video analysis, advanced algorithms for image processing, and sensor fusion. Eye-Net Mobile’s cellular-based application is a V2X (vehicle-to-everything) accident prevention solution based on real-time spatial analysis of clients’ movement.
The company’s systems are designed to improve driving safety by enabling highly accurate and reliable threat detection while ensuring the lowest rates of false alerts. Foresight is targeting the advanced driver assistance systems (“ADAS”), the semi-autonomous and autonomous vehicle markets and predicts that its systems will revolutionize automotive safety by providing an automotive-grade, cost-effective platform and advanced technology.
For more information about Foresight and its wholly owned subsidiary, Foresight Automotive, visit www.ForesightAuto.com
NOTE TO INVESTORS: The latest news and updates relating to FRSX are available in the company’s newsroom at http://ibn.fm/FRSX
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