- Foresight Autonomous Holdings Ltd (NASDAQ:FRSX) has signed a memorandum of understanding (MOU) with Shandong Research Institute and Beidou Tech.
- The parties will jointly develop 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, radar, laser scanning technology LiDAR, and Beidou Tech’s vehicle navigation and positioning system.
- The resulting system is intended for use in autonomous vehicles, trucks, passenger cars, and other vehicles in Shandong Province, China.
- In addition, the parties plan to negotiate a definitive deal to develop the new collaboratively produced system and establish a joint venture in Shandong.
- Price Action: FRSX shares are trading higher by 7.30% at $0.6895 on the last check Thursday.
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