- 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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