Foresight: Eye-Net Secures Follow-up Order from Leading Japanese Vehicle Manufacturer

In a notable stride forward for automotive safety technology, Foresight Autonomous Holdings Ltd., a pioneering force in the development of cutting-edge automotive vision systems, is thrilled to announce that its subsidiary, Eye-Net Mobile Ltd., has secured a follow-up paid development project from a premier Japanese vehicle manufacturer. This new agreement comes on the heels of the successful completion of the initial phases of a comprehensive proof-of-concept (POC) project aimed at revolutionizing vehicle-to-everything (V2X) communication.

This partnership first came to light on February 28, 2023, with the two entities embarking on a paid POC project. The project’s goal was to rigorously assess the unique capabilities and added value of Eye-Net’s proprietary technology, Eye-Zone, as an innovative software layer for V2X communication. The successful progression through the earlier project phases underscores the technology’s practical viability and its promising potential to redefine safety and communication standards within the automotive industry.

Eye-Zone, a Linux-based solution developed by Eye-Net, is designed to seamlessly facilitate the point-to-point transmission of safety messages and alerts between the vehicle and nearby users, thereby significantly enhancing road safety, particularly for vulnerable road users. The solution’s remarkable ability to promote seamless communication between vehicles and all road users renders it a breakthrough in automotive safety technologies.

Designed for easy integration with existing automotive systems—including advanced driver assistance systems (ADAS), navigation, and infotainment systems—Eye-Zone harnesses Eye-Net’s exceptional V2X technology, providing real-time alerts and traffic information to drivers. This technology not only enhances driver awareness but also offers the potential to significantly reduce the incidence of accidents on the road.

The successful integration of Eye-Zone into the vehicle manufacturer’s existing ADAS systems marks a forward leap in the journey towards safer, more connected roadways. Looking ahead, should the ongoing evaluation reaffirm the solution’s benefits, both parties are poised to explore a range of commercial opportunities, promising exciting advancements in vehicle safety technologies.

Foresight Autonomous Holdings Ltd., with its subsidiaries including Foresight Automotive Ltd., Foresight Changzhou Automotive Ltd., and Eye-Net Mobile Ltd., continues to lead innovation in the realm of smart multi-spectral vision software solutions and cellular-based applications. The company’s robust portfolio of “in-line-of-sight” vision systems and “beyond-line-of-sight” accident-prevention solutions is set to redefine industry standards, offering unparalleled safety and situational awareness across automotive, defense, autonomous vehicles, and heavy industrial equipment sectors.

As this collaboration between Eye-Net and the distinguished Japanese vehicle manufacturer moves into its next phase, the promise of safer, more interconnected roadways becomes increasingly tangible. This venture not only showcases the potential for substantial advancements in automotive safety but also reinforces the crucial role of innovative technology in shaping the future of mobility.

Note: This communication includes forward-looking statements regarding project outcomes, seamless communication capabilities, and potential commercial opportunities. These statements are based on the current expectations of Foresight Autonomous Holdings and involve uncertainties and risks that could cause actual results to differ materially. For a detailed discussion of these risks and uncertainties, please refer to Foresight’s filings with the Securities and Exchange Commission.

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