- Foresight Autonomous Holdings Ltd. (NASDAQ:FRSX) has signed a paid joint proof of concept (POC) project with a leading American manufacturer of electric vehicles (EVs).
- Foresight intends to demonstrate its ability to create a 3D stereo perception with software using the EV using the manufacturer’s existing pair of mono cameras mounted on a large baseline.
- The company’s ScaleCam separated stereo camera solution allows manufacturers to place cameras on a large baseline.
- The solution increases distance accuracy at long ranges, allows the detection of obstacles, and improves the safety of the driver assistance system.
- “We are delighted to collaborate with a major player from the EV industry who chose to evaluate the potential of our software to improve the company’s existing safety systems using a software-only solution,” said CEO Haim Siboni.
- Price Action: FRSX shares are trading higher by 4.13% at $0.6633 on the last check Wednesday.
For Q2 2024, Expects Revenues To Range Between $2.148B-$2.168B Vs $2.18B Est.; FY24 Revenue $8.692B-$8.792B Vs $8.86B Est.
Business OutlookFor the second quarter of 2024, the company expects revenues to range between $2.148 and $2.168 billion, an increase of approximately 1 - 2% over the previous quarter, or a normalized and constant
