Foresight Autonomous to partner with Hyundai on autonomous vehicle project (NASDAQ:FRSX)

Foresight Autonomous Holdings Ltd. (NASDAQ:FRSX) announced on Wednesday that it inked a collaboration agreement with Hyundai (OTCPK:HYMTF)-founded KONEC to integrate the company’s ScaleCam 3D perception technology into a conceptual autonomous driving vehicle.

The Israel-based company said the collaboration leverages KONEC’S expertise in developing advanced automotive systems. The project will incorporate Foresight’s (FRSX) 360° 3D perception technology, enabling the conceptual autonomous driving vehicle to accurately perceive its surroundings. The successful integration of ScaleCam was noted to have the potential to significantly enhance the capabilities and safety of autonomous vehicles.

CEO update: “We believe that the collaboration with KONEC represents a significant step forward in the development of next-generation autonomous driving solutions. By combining our resources, image processing expertise, and innovative technologies, we aim to accelerate the development and deployment of autonomous vehicles, ultimately contributing to safer transportation solutions in the Republic of Korea.”

Shares of FRSX moved up 2.77% in premarket trading on Wednesday.