Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX), an innovator in automotive vision systems, today announced its entry into a memorandum of understanding (“MOU”) with Shandong Industry Research Information and Artificial Intelligence Integration Research Institute Co. Ltd (“Shandong Research Institute”), a professional research institute wholly owned by Shandong Industrial Technology Research Institute, and Beidou Jingzong Technology (“Shandong”) Co. Ltd (“Beidou Tech”). Beidou Tech is mainly engaged in the research of high-precision seamless positioning, real-time accurate regeneration of scene targets, and control of scene target position. According to the update, the MOU establishes the joint development of an obstacle detection system and all-weather, high-precision positioning for unmanned vehicles based on multi-sensor fusion. The new system will combine Foresight’s stereoscopic technology (using both visible light and thermal cameras), radar, and the laser scanning technology LiDAR, as well as Beidou Tech’s vehicle navigation and positioning system. The MOU follows several projects reported by the company over the past year and supports Foresight’s strategy to expand its presence in China and become a dominant player in the Asia-Pacific automotive market.

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About Foresight Autonomous Holdings Ltd.

Foresight is a technology company developing smart multispectral vision software solutions and cellular-based applications. Through the company’s wholly owned subsidiaries, Foresight Automotive Ltd., Foresight Changzhou Automotive Ltd. and Eye-Net Mobile Ltd., Foresight develops both “in-line-of-sight” vision systems and “beyond-line-of-sight” accident-prevention solutions. Foresight’s vision solutions include modules of automatic calibration and dense three-dimensional (“3D”) point cloud that can be applied to different markets such as automotive, defense, autonomous vehicles and heavy industrial equipment. Eye-Net Mobile’s cellular-based solution suite provides real-time pre-collision alerts to enhance road safety and situational awareness for all road users in the urban mobility environment by incorporating cutting-edge AI technology and advanced analytics. For more information about Foresight and its wholly owned subsidiary, Foresight Automotive, visit www.ForesightAuto.com.

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