The objectives of the pilot project are to demonstrate the performance of Foresight’s 3D multi-camera-based accident prevention systems, and to study further the Chinese drivers’ requirements for driver assistance systems, taking into consideration local weather, infrastructure and common driving conduct.

The pilot project will be financed by the manufacturer, except for production, shipping and system installation costs of Foresight’s Eyes-On system. Moreover, the manufacturer will provide the company the resources required for conducting the pilot project. The agreement defines the test procedure, its requirements and the criteria for its success in a quantitative manner. Eyes-On will be tested in controlled and uncontrolled environments, in varying speeds and against both predefined and incidental targets.

The parties will consider entering into a future commercial agreement based on the results of the pilot project.

The manufacturer is owned by the Chinese government and has a production capacity of millions of vehicles annually, including commercial vehicles, military vehicles and replacement parts for the automotive industry. Furthermore, the manufacturer has an investment arm specializing in locating technologies for the vehicle market.

Foresight, founded in 2015, is a technology company engaged in the design, development and commercialization of Advanced Driver Assistance Systems (ADAS) based on 3D video analysis, advanced algorithms for image processing and artificial intelligence. The company, through its wholly owned subsidiary, develops advanced systems for accident prevention, which are designed to provide real-time information about the vehicle’s surroundings while in motion.

The systems are designed to alert drivers to threats that might cause accidents, resulting from traffic violations, driver fatigue or lack of concentration, etc., and to enable highly accurate and reliable threat detection while ensuring the lowest rates of false alerts.