Why Is Penny Stock Foresight Autonomous Gaining Today?

Foresight Autonomous Holdings Ltd. FRSX shares saw a boost on Friday following the announcement of a multi-phase collaboration between its subsidiary, Eye-Net Mobile Ltd., SoftBank Corp., and a Japanese vehicle manufacturer.

The agreement focuses on evaluating Eye-Net’s cellular vehicle-to-everything (C-V2X) technology, which could play a critical role in advanced driver assistance systems (ADAS) and set new standards for road safety.

The collaboration began with a paid proof of concept project, supported by SoftBank’s cellular network infrastructure. This initiative aims to integrate Eye-Net’s non-line-of-sight collision avoidance solution into the automaker’s future vehicle systems, addressing key challenges in real-time situational awareness.

The first phase involves the evaluation of the Eye-Net Sense demonstration kit in a standalone mode.

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If successful, the next phase could see Eye-Net Sense integrated into the automaker’s infotainment systems.

If the first two phases meet expectations, the solution could eventually be integrated into the manufacturer’s ADAS, paving the way for a full commercial deployment in vehicles.

Dror Elbaz, CEO of Eye-Net, emphasized that this collaboration marks a significant step towards improving road safety by combining Eye-Net’s technology with SoftBank’s infrastructure and the expertise of the Japanese automaker.

The project is part of Eye-Net’s mission to protect millions of lives by preventing non-line-of-sight collisions and revolutionizing road safety. The company continues to expand its presence in the C-V2X technology space, with the potential for a major breakthrough in the automotive industry.

Price Action: FRSX shares are trading higher by 13% to $1.04 at last check Friday.

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