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Foresight Autonomous Holdings Ltd. - FRSX STOCK NEWS

Welcome to our dedicated page for Foresight Autonomous Holdings Ltd. news (Ticker: FRSX), a resource for investors and traders seeking the latest updates and insights on Foresight Autonomous Holdings Ltd. stock.

Foresight Autonomous Holdings Ltd. (NASDAQ and TASE: FRSX), established in July 2015, is a pioneering technology company focused on the automotive industry. Through its wholly-owned subsidiary, Foresight Automotive Ltd., the company is dedicated to the design, development, and commercialization of advanced vision systems. These systems play a critical role in enhancing driving safety by utilizing stereo and quad camera technologies.

Foresight's innovative solutions are built on a foundation of stereoscopic technology, which has been field-proven for nearly two decades. The company's patented technology integrates 3D video analysis and sophisticated image processing algorithms to accurately detect potential collisions with vehicles, pedestrians, cyclists, and other road obstacles. This advanced system provides real-time alerts with minimal false positives, significantly improving road safety.

Foresight offers a variety of solutions tailored for the modern automotive industry, including both in-line-of-sight and beyond-line-of-sight applications. These solutions deploy either a two-camera setup for visible light conditions or a four-camera system to handle more complex scenarios. The company is actively pursuing numerous markets and partnerships to bring its cutting-edge technology to a broader audience.

Recent developments and achievements highlight Foresight's commitment to innovation and market growth. The company continues to make strides in financial stability and operational excellence. Their corporate highlights for the first quarter of 2024 showcased steady progress, with key updates on both financial results and strategic initiatives.

Foresight's vision systems are poised to revolutionize automotive safety, offering a cost-effective, reliable, and highly accurate platform that meets the stringent demands of the industry. The company remains dedicated to pushing the boundaries of what's possible in vehicle vision technology.

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Foresight Autonomous Holdings (FRSX) announced signing an agreement for a follow-up paid software proof of concept (POC) project with a leading Japanese vehicle manufacturer. This project aims to evaluate the integration of Foresight's ScaleCam™ software into the manufacturer’s vehicles equipped with level 2 and level 3 autonomous driving features. The project builds on two previously successful POCs reported in February 2024 and focuses on the software's ability to detect objects accurately using the manufacturer’s existing cameras and hardware. Successful completion could lead to deeper collaboration and potential integration of Foresight's technology into the manufacturer's mass-produced vehicles.

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Foresight Autonomous Holdings (FRSX) has entered into a proof of concept (POC) agreement with BuilderX Robotics, a Chinese company specializing in remote-controlled heavy machinery. The project will assess Foresight's QuadSight® 3D perception technology, integrating visible-light and thermal cameras to enhance safety, vision accuracy, and operational efficiency under harsh conditions. BuilderX’s machinery operates in hazardous environments with toxic gases, severe dust, and poor visibility. Successful completion could lead to the integration of this technology into BuilderX’s equipment fleet.

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Foresight Autonomous Holdings (NASDAQ: FRSX) announced an amendment to its agreement with SUNWAY-AI Technology (Changzhou) to integrate its ScaleCam™ 3D stereoscopic vision system into SUNWAY's autonomous logistics and robotic vehicles. The systems will be first deployed in unmanned warehouse vehicles, autonomous coffee carts, and wireless charging robotic vehicles, enhancing their navigation and efficiency. If approved, the first batch is expected by the end of 2024. China's logistics market, valued at USD 52.58 billion in 2024, is projected to reach USD 70.22 billion by 2029, growing at a 5.96% CAGR.

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Foresight Autonomous Holdings (FRSX) has entered a co-development agreement with KONEC, a Korean Tier One automotive supplier, under the sponsorship of Hyundai-backed Korea Automotive Parts Industry Promotion (KAP). The collaboration aims to integrate Foresight’s ScaleCam™ 3D perception technology into a conceptual autonomous driving vehicle. This project leverages KONEC's expertise in advanced automotive systems and KAP's mission to foster innovation in the automobile parts industry. The integration of ScaleCam™, a stereoscopic technology-based solution, is expected to significantly enhance the safety and capabilities of autonomous vehicles. According to Foresight’s CEO, this partnership marks a significant advancement in the development of next-generation autonomous driving solutions, contributing to safer transportation in Korea.

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Foresight Autonomous Holdings (Nasdaq and TASE: FRSX) announced its Q1 2024 financial results on May 28, 2024.

The company reported initial revenues from collaborations with Elbit Systems and SoftBank, contributing to an 84% increase in quarterly revenues to $101,000.

Foresight’s net loss decreased to $1.5 million, a 67% improvement compared to Q1 2023. Operating loss also saw a 37% reduction, attributed to cost-cutting and strategic resource allocation.

Key milestones include successful proof-of-concept projects with a leading Japanese vehicle manufacturer and new commercial efforts in Japan. Cash reserves stood at $14.8 million at the quarter’s end, down slightly from $15.7 million at the end of 2023.

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Foresight Autonomous Holdings (FRSX) announces the potential expansion of its market due to a new U.S. Department of Transportation regulation. The regulation mandates that all new passenger cars and light trucks must have automatic emergency braking (AEB) systems by September 2029. Foresight's stereoscopic thermal imaging technology enhances AEB performance in low-light conditions, increasing pedestrian safety. The NHTSA estimates this will save 360 lives and prevent 24,000 injuries annually. The regulation is expected to boost demand for thermal cameras, reducing costs and benefiting Foresight's technology.

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Foresight Autonomous Holdings announced the development of Dragonfly Vision™, a 360-degree 3D perception solution powered by NVIDIA Jetson AGX Orin. This innovative solution offers precise obstacle detection and road surface coverage, with a performance of 275 trillion operations per second, revolutionizing safety and efficiency in various industries.

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Foresight Autonomous Holdings has been granted patent approval in Japan for its multi-spectral vehicular system, enhancing obstacle detection in challenging weather and lighting conditions. The patented technology integrates thermal cameras for precise obstacle detection in adverse environments, providing a competitive edge in the automotive industry.
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Foresight Autonomous Holdings licenses its cutting-edge 3D image processing software to Elbit Systems for deployment in fully autonomous defense vehicles. The software, recognized by Israel’s Ministry of Defense, will be used in advanced driver assistance systems for driving safety and autonomous platforms for defense and security markets. This collaboration signifies the first commercial deployment of Foresight’s software to Elbit's end customers, with potential for future orders. The partnership aims to enhance operational efficiency and strategic advantages in the defense sector.
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Foresight Autonomous Holdings announces a strategic collaboration between Eye-Net and a leading Japanese technology company for a proof-of-concept project to integrate Eye-Net's technology with dashcams. The aim is to enhance road safety, prevent accidents, and reduce insurance costs by enabling dashcams to detect collisions outside the driver's line of sight. The collaboration may lead to discounted insurance premiums for customers using connected dashcams with Eye-Net's technology.
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FAQ

What does Foresight Autonomous Holdings Ltd. do?

Foresight Autonomous Holdings Ltd. designs, develops, and commercializes advanced vision systems for the automotive industry to enhance driving safety.

What technology does Foresight use in its vision systems?

Foresight employs stereoscopic technology, integrating 3D video analysis and advanced image processing algorithms for accurate threat detection.

How do Foresight's vision systems improve driving safety?

The systems detect potential collisions in real-time with high accuracy and minimal false alerts, enhancing overall road safety.

What types of vision systems does Foresight offer?

Foresight offers both in-line-of-sight and beyond-line-of-sight vision systems, using either a two-camera or four-camera setup depending on the application.

What are some recent achievements of Foresight Autonomous Holdings Ltd.?

Recent achievements include financial stability and advancements in their vision technology, as showcased in their first quarter 2024 corporate highlights.

What markets is Foresight targeting with its technology?

Foresight is pursuing various markets within the automotive industry, aiming to bring their innovative vision systems to a broader audience.

How long has Foresight's stereoscopic technology been in use?

Foresight's stereoscopic technology is derived from field-proven systems that have been deployed worldwide for almost two decades.

What are the key features of Foresight's vision systems?

Key features include 3D image analysis, sensor fusion, advanced algorithms, and highly accurate real-time alerts with minimal false positives.

How does Foresight's technology handle different lighting conditions?

Foresight's vision systems can operate using a two-camera setup for visible light or a more complex four-camera system for various lighting conditions.

Who can benefit from Foresight's vision systems?

Automotive manufacturers, industry partners, and ultimately, drivers benefit from Foresight's advanced vision systems by enhancing vehicle safety.

Foresight Autonomous Holdings Ltd.

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