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Benzinga
Benzinga
Business
Shivani Kumaresan

Foresight Inks Business Cooperation Agreement With SUNWAY-AI Technology

  • Foresight Autonomous Holdings Ltd (NASDAQ: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.
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