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From: SunTzu772 (Rep: 1096)Date: 07/11/2018 09:40
Forum: Wall Street Pit - Msg #2742160 - List FRSX msgs Thread #674020454 (Rec: 1)
Foresight Announces Another Sale of QuadSight(TM) Prototype
7/11/18 | BusinessWire
The system was ordered by a leading global Chinese electric vehicle manufacturer
NESS ZIONA, Israel--(BUSINESS WIRE)--July 11, 2018--
Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX), an innovator in automotive vision systems, today announced the sale of another prototype of its breakthrough QuadSight(TM) quad-camera vision system targeted for the semi-autonomous and autonomous vehicle market.
Designed to allow near-100% obstacle detection under any weather and lighting conditions, the system was ordered by a leading Chinese electric and autonomous vehicle manufacturer to evaluate the system and its performance with the manufacturer's current electric vehicles. The vehicle manufacturer may choose to integrate QuadSight(TM) into its future autonomous electric vehicles upon successful testing. Revenue from the prototype system sale is expected to total tens of thousands of dollars.
"According to a report by Frost & Sullivan earlier this year, more than 1.2 million electric vehicles were sold globally in 2017. Notably, China led the market with 49.5% of total sales," stated Doron Cohadier, Foresight's VP of Business Development. "With China expected to be the largest market for electric vehicles for at least the next five to seven years, and as analysts at Boston Consulting Group predict that more than five million conventional cars per year could be replaced by fully or semi-autonomous electric vehicles, we feel that our QuadSight(TM) system is well suited for the evolving Chinese electric vehicle market."
This and any future sale of QuadSight(TM) prototypes is expected to provide Foresight with important customer feedback and a deeper understanding of each customer's main requirements, while also allowing Foresight to modify the system to accommodate various customer needs within a short period of time. Customer satisfaction at the end of the evaluation process may lead to orders of QuadSight(TM) systems by the vehicle manufacturer for mass production.
By selling additional prototypes, Foresight intends to increase awareness of its unique solution, address additional potential customers, and expand its presence with vehicle manufacturers and tier-one automotive suppliers. Foresight believes that a closer evaluation of the technology by potential customers may lead to future collaborations in research and development, integration and commercialization of the QuadSight(TM).
About QuadSight(TM)
Foresight first launched a demo of its QuadSight(TM) system in January at the Consumer Electronics Show in Las Vegas. Foresight regards QuadSight(TM) as the industry's most accurate quad-camera vision system, offering exceptional obstacle detection for semi-autonomous and autonomous vehicle safety. Using proven, highly advanced image-processing algorithms, QuadSight(TM) uses four-camera technology that combines two pairs of stereoscopic infrared and daylight cameras. QuadSight(TM) is designed to achieve near-100% obstacle detection with near-zero false alerts under any weather or lighting conditions -- including complete darkness, rain, haze, fog and glare.
Stereoscopic vision technology's exceptional three-dimensional (3D) images, detection and accuracy are essential for safe and reliable semi-autonomous and autonomous vehicle vision systems. Stereoscopic cameras exceed a human driver's ability to see objects in real time, whether large or small, in-motion or static, and from short or long-range distances. The dynamic driving environment demands a level of accuracy that only stereoscopic cameras can provide.

------------------- "Opportunities multiply as they are seized" -- Sun Tzu circa 500 B.C. -------------------

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