Foresight Inks Business Cooperation Agreement With SUNWAY-AI Technology

Foresight Autonomous Holdings Ltd FRSX has signed a multiphase business cooperation agreement with SUNWAY-AI Technology Co Ltd., a Chinese manufacturer of autonomous and unmanned intelligent vehicle products. The financial terms were not disclosed.
The first phase will consist of a proof of concept (POC) project in which SUNWAY will test the QuadSight vision prototype system and evaluate Foresight's technology.
Upon successful evaluation, the parties plan to develop and commercialize solutions focused on the Chinese agriculture and heavy machinery markets.
SUNWAY designs and develops autonomous farms in China, among other projects, and intends to incorporate Foresight's stereo technology into its unmanned autonomous agricultural vehicles.
Price Action: FRSX shares are trading higher by 0.90% at $1.69 on the last check Wednesday.