Foresight to develop smart mobility solutions for the Chinese automotive industry
Foresight Autonomous Holdings announced the signing of a multi- phase technological cooperation agreement with a Chinese Tier One supplier to develop smart mobility solutions for the Chinese automotive industry, and specifically for two Chinese vehicle manufacturers (OEMs).
According to the agreement, Foresight will collaborate with the Tier One to design, develop and commercialize automatic safety solutions to be implemented in the vehicles of the Chinese OEMs.
Tier One is currently involved in several projects with the Chinese OEMs for integration of autonomous functions. The cooperation agreement may enable Foresight to integrate its QuadSight vision system into these existing projects.
In addition, as a result of their close cooperation, both companies have decided to approach the Innovation Authorities, each in its respective Country, for project funding according to the Israel-China bilateral governmental funding programs. However, realization of the aforementioned projects is not dependent on funding from the Innovation Authorities.