(via TheNewswire)
Chery and Foresight, together with Guide Infrared, will collaborate on autonomous vehicles to develop advanced solutions based on Foresight’s technology
Ness Ziona,
During the first phase, Chery will test the QuadSight® vision prototype system for the purpose of evaluating Foresight’s technology and its potential further integration into advanced solutions for vehicles manufactured by Chery. Upon successful evaluation, the parties will negotiate a commercial agreement for the co-development of advanced solutions based on Foresight’s technology integrated with XY’s automotive sensors. The advanced solutions are designed for potential integration into semi- and fully autonomous vehicles manufactured by Chery.
As a part of the cooperation, the parties will consider establishing a joint venture in
Additionally, to help accelerate innovation in the autonomous vehicles market and enable Foresight’s product expansion, Chery will consider a strategic investment in Foresight, in an amount and upon terms and conditions to be negotiated in the future.
“By signing this cooperation MOU with a leading automotive OEM, we continue our strategy to expand our presence in the Chinese automotive market. Our advanced 3D vision technologies combined with Guide Infrared’s thermal imaging capabilities potentially offer an accurate and reliable vision solution that can be integrated into Chery’s semi- and fully autonomous vehicles to enhance their current safety systems,” said
Chery is a Chinese automotive brand with global influence. It has a powerful R&D strength of engine, gearbox, chassis and other core technologies among Chinese automobile brands, and has established a global automobile R&D team of more than 5,500 people. Meanwhile, Chery is also among the first Chinese automobile company to export vehicles, complete knock-down parts, engines and vehicle manufacturing technology and equipment to the world. Up until now, Chery has exported its vehicles to more than 80 countries and regions, with nearly 9.4 million users worldwide, ranking first in the number of passenger cars exported from
About Wuhan Guide Infrared
Wuhan Guide Infrared Co., Ltd. (
Guide Infrared develops and manufactures infrared solutions for national defense security, protection systems, diagnostic tools, smart home, internet of things, intelligent terminals, machine vision systems, automotive industry, unmanned planes and other applications.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Foresight is using forwardlooking statements in this press release when it discusses that Chery will test the QuadSight® vision prototype system, that, subject to certain conditions, Chery and Foresight will negotiate a commercial agreement for the co-development of advanced solutions, that the parties will consider establishing a joint venture in
The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading "Risk Factors" in Foresight's annual report on Form 20-F filed with the Securities and Exchange
Commission ("SEC") on
About Foresight
Contact Details
Investor Relations Contact:
+1 917-607-8654
msegal@ms-ir.com
Company Website
https://www.foresightauto.com/
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