Agreement with top-three Chinese OEM
Foresight (FRST) has announced an agreement with one of the top three Chinese vehicle manufacturers for the promotion of its advanced driver assistance (ADAS) software for stereo cameras, as well as a potential investment in the company of up to $15m. The agreement means the OEM will demonstrate the capabilities of Foresight’s software in its vehicles, and paves the way for a potential pilot project of FRST’s systems. According to Foresight, the state-owned auto maker manufactures millions of vehicles under its own brands as well as vehicles for leading European and South Korean OEMs for sale in the Chinese market.
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