Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX), an innovator in automotive vision systems, announced today the successful completion of a feasibility testing phase with a leading European passenger car manufacturer. This marks the first phase of the joint proof of concept (POC) project that was reported by the Company on May 28, 2021. Revenue from the completion of the first phase amounts to $40,000 out of a total expected revenue of $120,000. The POC project is expected to be completed in the fourth quarter of 2021.
The POC project is meant to test the ability of Foresight’s stereoscopic technology to enhance the European vehicle manufacturer’s existing mono camera-based safety systems without requiring additional sensors and infrastructure. This may allow the European vehicle manufacturer to take existing safety systems to the next level of autonomy. The second phase of the project will consist of real-life testing. Following successful completion of the project and subject to the satisfactory outcome, the European vehicle manufacturer may consider integrating Foresight’s solutions into its vehicle safety applications.
The POC project is made possible with Foresight’s patented automatic calibration solution which is designed to create a stereo system using two mono cameras with overlapping fields-of-view in order to enhance the performance of a vehicle’s advanced driver assistance system in terms of detection quality, distance accuracy and robustness.