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Foresight inks deal with Chinese infrared camera manufacturer
Foresight Autonomous Holdings, a supplier of automotive vision systems, has signed a strategic cooperation agreement with Chinese company, Wuhan Guide Infrared.
Guide Infrared, through its subsidiary Global Sensor Technology, develops, manufactures and markets infrared thermal imaging systems. According to the agreement, the parties will cooperate in the development, marketing and distribution of Foresight’s QuadSight vision system, incorporating Guide Infrared’s solutions, to potential customers in Greater China. The parties says that they will consider establishing a joint venture in China, thus leveraging each others competitive strengths. The parties intend to determine other material terms of collaboration in a future agreement. Furthermore, pursuant to the agreement, Guide Infrared will consider a strategic investment in Foresight. According to the agreement, Guide Infrared will connect Foresight to the company’s network of Chinese vehicle manufacturers (OEMs), Tier One suppliers, and commercial vehicles and heavy machinery customers. Both companies will cooperate to optimize the performance of Guide Infrared solutions incorporated into Foresight’s QuadSight system by developing technical hardware and software solutions to cope with all weather and lighting conditions; and developing optical safety solutions targeting Chinese automotive market requirements. “We are very excited to announce our strategic cooperation with Guide Infrared, China’s largest producer of infrared detectors,” said Haim Siboni, CEO of Foresight. “This collaboration will allow us to benefit from Guide Infrared’s widely deployed distribution channels and will open new markets and opportunities, making our advanced vision technology available to the local Chinese automotive industry.” “Foresight’s innovative vision technology and the superior detection capabilities of the QuadSight system enhance our product offering and will help us to increase our presence in the Chinese automotive market,” said Li Huang, President of Guide Infrared. “Cooperation with Foresight is an important strategic move for our company and we anticipate significant future collaboration.”
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