Foresight teams with Softbank and Japanese car maker

Trading volume in Foresight Autonomous Holdings (TASE: FRSX, Nasdaq: FRSX) shares was well above average in the last two sessions of last week. On Thursday, the stock opened sharply higher, but ultimately closed unchanged. On Friday, it rose 35.9%, giving the company a market value of $19.2 million. The company, a developer of 3D perception systems, announced that its wholly-owned subsidiary Eye-Net Mobile has signed a multi-stage agreement with SoftBank Corp. (Tokyo: 9434) and “a leading Japanese automobile manufacturer.” The two companies will collaborate to evaluate Eye-Net’s cellular vehicle-to-everything (C-V2X) technology as a component of advanced driver assistance systems, with the aim of improving road safety.

The agreement was signed earlier this year. Eye-Net is conducting a paid proof-of-concept (POC) project supported by SoftBank’s cellular network infrastructure. “This initiative is designed to explore the integration of Eye-Net’s beyond-line-of-sight collision avoidance solution into the automaker’s future vehicle systems, addressing critical challenges in real-time situational awareness,” the company’s announcement said.

In 2024 so far, the stock of Foresight Autonomous Holdings, headed by Haim Siboney, has risen 21.4%, but its share price is still 98% below its peak in 2021.

Published by Globes, Israel Business News – en.globes.co.il – on December 22, 2024.

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