Foresight Collaborates with Higer Bus Company and Xi’an Jiaotong-Liverpool University to Enhance Autonomous Bus Perception
Foresight Autonomous Holdings (Nasdaq and TASE: FRSX) has announced a paid proof of concept (POC) project with Xi'an Jiaotong-Liverpool University (XJTLU) and Higer Bus Company The collaboration aims to develop multi-sensor 3D perception fusion technology for Higer's autonomous electric buses.
Foresight's QuadSight® technology, which combines visible-light and thermal cameras, will be integrated into Higer's buses to enhance object detection in challenging environmental conditions. This project represents an opportunity to accelerate autonomous bus technology development for both European and Asian markets, addressing critical safety and performance challenges in public transportation.
Foresight Autonomous Holdings (Nasdaq e TASE: FRSX) ha annunciato un progetto di prova di concetto (POC) retribuito in collaborazione con l'Università Xi'an Jiaotong-Liverpool (XJTLU) e la Higer Bus Company. La collaborazione si propone di Sviluppare una tecnologia di fusione della percezione 3D multi-sensore per i bus elettrici autonomi di Higer.
La tecnologia QuadSight® di Foresight, che combina telecamere a luce visibile e termiche, sarà integrata nei bus di Higer per migliorare il rilevamento degli oggetti in condizioni ambientali difficili. Questo progetto rappresenta un'opportunità per accelerare lo sviluppo della tecnologia per bus autonomi sia per i mercati europei che asiatici, affrontando sfide critiche relative alla sicurezza e al rendimento nel trasporto pubblico.
Foresight Autonomous Holdings (Nasdaq y TASE: FRSX) ha anunciado un proyecto de prueba de concepto (POC) pagado con la Universidad Xi'an Jiaotong-Liverpool (XJTLU) y la Higer Bus Company. La colaboración tiene como objetivo desarrollar una tecnología de fusión de percepción 3D multi-sensorial para los autobuses eléctricos autónomos de Higer.
La tecnología QuadSight® de Foresight, que combina cámaras de luz visible y térmicas, se integrará en los autobuses de Higer para mejorar la detección de objetos en condiciones ambientales desafiantes. Este proyecto representa una oportunidad para acelerar el desarrollo de la tecnología de autobuses autónomos tanto en los mercados europeos como asiáticos, abordando desafíos críticos de seguridad y rendimiento en el transporte público.
Foresight Autonomous Holdings (Nasdaq 및 TASE: FRSX)가 Xi'an Jiaotong-Liverpool University (XJTLU) 및 Higer Bus Company와 함께 유료 개념 증명(POC) 프로젝트를 발표했습니다. 이 협력의 목표는 Higer의 자율 전기버스를 위한 다중 센서 3D 인식 융합 기술 개발입니다.
Foresight의 QuadSight® 기술은 가시광선과 열 카메라를 결합하여 Higer의 버스에 통합되어 어려운 환경 조건에서 물체 감지를 향상시킵니다. 이 프로젝트는 유럽 및 아시아 시장을 위한 자율 버스 기술 개발을 가속화할 수 있는 기회를 제공하며, 공공 교통에서의 중요한 안전 및 성능 문제를 해결합니다.
Foresight Autonomous Holdings (Nasdaq et TASE: FRSX) a annoncé un projet de preuve de concept (POC) rémunéré avec l'Université Xi'an Jiaotong-Liverpool (XJTLU) et la Higer Bus Company. La collaboration vise à délopper une technologie de fusion de perception 3D multi-capteurs pour les bus électriques autonomes de Higer.
La technologie QuadSight® de Foresight, qui combine des caméras à lumière visible et thermiques, sera intégrée dans les bus de Higer pour améliorer la détection des objets dans des conditions environnementales difficiles. Ce projet représente une opportunité pour accélérer le développement de la technologie de bus autonomes tant pour les marchés européens qu'asiatiques, en répondant à des défis critiques de sécurité et de performance dans le transport public.
Foresight Autonomous Holdings (Nasdaq und TASE: FRSX) hat ein entgeltliches Proof of Concept (POC)-Projekt mit der Xi'an Jiaotong-Liverpool University (XJTLU) und der Higer Bus Company angekündigt. Ziel der Zusammenarbeit ist die Entwicklung einer Multi-Sensor-3D-Wahrnehmungsfusionstechnologie für die autonomen Elektrobuse von Higer.
Die QuadSight®-Technologie von Foresight, die sichtbare Licht- und Wärmebildkameras kombiniert, wird in die Busse von Higer integriert, um die Objekterkennung unter schwierigen Umgebungsbedingungen zu verbessern. Dieses Projekt stellt eine Gelegenheit dar, um die Entwicklung der autonomen Bust-Technologie sowohl für europäische als auch asiatische Märkte zu beschleunigen, indem es kritische Sicherheits- und Leistungsherausforderungen im öffentlichen Verkehr adressiert.
- Paid proof of concept project with XJTLU and Higer Bus Company
- Development of advanced multi-sensor perception fusion technology for autonomous buses
- Potential expansion into European and Asian markets for autonomous bus solutions
- Integration of QuadSight® technology into Higer's autonomous electric buses
- None.
Foresight's collaboration with Higer Bus Company and Xi'an Jiaotong-Liverpool University marks a significant step in advancing autonomous bus technology. The project's focus on developing multi-sensor 3D perception fusion technology addresses a critical challenge in autonomous driving: reliable object detection in diverse environmental conditions.
The integration of Foresight's QuadSight® technology, which combines visible-light and thermal cameras, into Higer's autonomous electric buses is particularly noteworthy. This approach could potentially overcome limitations of current perception systems, especially in challenging weather or lighting conditions. The ability to accurately detect objects in various scenarios is important for the safety and reliability of autonomous public transportation.
From a technical perspective, the collaboration between an innovative vision systems company, a major bus manufacturer and a leading academic institution creates a powerful synergy. This combination of expertise could accelerate the development and real-world implementation of advanced autonomous driving technologies. The project's emphasis on adapting to both European and Asian urban environments suggests a global approach, which could lead to more versatile and widely applicable solutions.
However, investors should note that while this collaboration is promising, the autonomous vehicle market is highly competitive and rapidly evolving. The success of this project will depend on how effectively the technology can be integrated and scaled, as well as regulatory approvals in target markets. The project's outcomes could significantly impact Foresight's position in the autonomous driving technology sector, potentially opening new market opportunities in the public transportation segment.
This collaboration positions Foresight strategically in the burgeoning autonomous bus market, which is projected to grow significantly in the coming years. The partnership with Higer Bus Company, a major player in the Chinese bus market with a global presence, provides Foresight with a valuable opportunity to showcase its technology in a real-world, high-stakes environment.
The Chinese market, in particular, presents a substantial opportunity. China has been aggressively pursuing autonomous vehicle technology, with government support and large-scale pilot programs in several cities. Foresight's entry into this market through a collaboration with a respected local manufacturer and a prominent university could provide a significant advantage.
Moreover, the project's dual focus on European and Asian markets is astute. Public transportation systems in these regions often face different challenges, from infrastructure to weather conditions. Developing a solution that can adapt to diverse environments could give Foresight a competitive edge in the global market.
However, investors should consider the competitive landscape. Many major automotive and technology companies are investing heavily in autonomous driving technology. Foresight will need to demonstrate clear technological superiority and cost-effectiveness to stand out in this crowded field.
The financial implications of this project are not immediately clear, as the terms of the paid proof of concept were not disclosed. Investors should watch for future announcements regarding the project's progress and any potential commercial agreements that may result from this collaboration. If successful, this project could open up new revenue streams for Foresight in the autonomous public transportation sector, potentially driving long-term growth.
The parties engaged in a project to jointly develop a multi-sensor 3D perception fusion technology for Higer’s autonomous electric bus
Ness Ziona, Israel, July 29, 2024 (GLOBE NEWSWIRE) -- Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) (“Foresight” or the “Company”), an innovator in automotive vision systems, announced today the signing of an agreement for a paid proof of concept (POC) project with Xi’an Jiaotong-Liverpool University (“XJTLU”), China’s largest Sino-foreign cooperative university. The project aims to install and integrate Foresight’s QuadSight® technology into Higer Bus Company Limited (“Higer”) autonomous buses.
The project scope is to jointly develop advanced multi-sensor perception fusion and visualization modeling technology specifically designed for autonomous driving applications. The technology will be initially implemented on Higer's autonomous electric buses. Foresight’s QuadSight 3D perception capabilities, combining visible-light and thermal cameras, will be used to accurately detect objects surrounding the vehicle in challenging environmental and weather conditions.
“Our collaboration with XJTLU and Higer represents a unique opportunity to accelerate the development of autonomous bus technology for both European and Asian markets, addressing critical safety and performance challenges in public transportation,” said Oren Bar-On, CEO of Foresight Asia. “By combining Foresight’s advanced perception technology with their respective strengths in academia and automotive manufacturing, we aim to develop safe and reliable autonomous bus solutions that can adapt to the unique challenges of both European and Asian urban environments.”
About Higer Bus Company
Higer Bus Company Limited was established in 1998 and is commonly known as 'Suzhou Jinlong'. With annual sales exceeding ten billion CNY, Higer buses operate across more than 130 countries and regions worldwide, paving a sustainable path for rapid development. The company has been listed among the 'Top 500 Most Valuable Brands in China' for 16 consecutive years and has become a national automobile whole vehicle export base enterprise and one of China's Top 100 Enterprise Information Technology companies.
About Xi'an Jiaotong-Liverpool University
Xi'an Jiaotong-Liverpool University (XJTLU) is an international university established in May 2006 through the partnership among Xi'an Jiaotong University and the University of Liverpool. XJTLU is currently the largest Sino-foreign cooperative university in China. The university offers 48 undergraduate programs, 48 master's programs, and 17 doctoral research programs. It has nearly 2,300 staff members and over 25,000 students.
About Foresight
Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) is a technology company developing smart multi-spectral vision software solutions and cellular-based applications. Through the Company’s wholly owned subsidiaries, Foresight Automotive Ltd., Foresight Changzhou Automotive Ltd. and Eye-Net Mobile Ltd., Foresight develops both “in-line-of-sight” vision systems and “beyond-line-of-sight” accident-prevention solutions.
Foresight’s vision solutions include modules of automatic calibration and dense three-dimensional (3D) point cloud that can be applied to different markets such as automotive, defense, autonomous vehicles and heavy industrial equipment. Eye-Net Mobile’s cellular-based solution suite provides real-time pre-collision alerts to enhance road safety and situational awareness for all road users in the urban mobility environment by incorporating cutting-edge AI technology and advanced analytics.
For more information about Foresight and its wholly owned subsidiary, Foresight Automotive, visit www.foresightauto.com, follow @ForesightAuto1 on Twitter, or join Foresight Automotive on LinkedIn.
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 forward-looking statements in this press release when it discusses the aims and scope of the POC, that Foresight’s collaboration with XJTLU and Higer represents a unique opportunity to accelerate the development of autonomous bus technology for both European and Asian markets, and its aim to develop safe and reliable autonomous bus solutions that can adapt to the unique challenges of both European and Asian urban environments. Because such statements deal with future events and are based on Foresight’s current expectations, they are subject to various risks and uncertainties, and actual results, performance or achievements of Foresight could differ materially from those described in or implied by the statements in this press release.
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 for the fiscal year ended December 31, 2023 filed with the Securities and Exchange Commission ("SEC") on March 27, 2024, and in any subsequent filings with the SEC. Except as otherwise required by law, Foresight undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Foresight is not responsible for the contents of third-party websites.
Investor Relations Contact:
Miri Segal-Scharia
CEO
MS-IR LLC
msegal@ms-ir.com
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FAQ
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