Foresight Receives Two Orders from Elbit for Product Development and Customization

The Company will supply a QuadSight prototype system with enhanced detection capabilities to the Israeli defense company

Foresight Autonomous Holdings Ltd., an Israeli innovator in automotive vision systems, announced that it has received two orders for product development and customization from Elbit Systems Land Ltd., a subsidiary of Elbit Systems Ltd.. Elbit Systems is Foresight’s first commercial customer. Foresight will supply a QuadSight prototype system with wide-angle field-of-view detection capabilities designed to meet Elbit’s requirements. Revenue from both orders is expected to total tens of thousands of dollars.

Elbit placed the orders for product development and customization following thorough testing and evaluation of a QuadSight prototype system.  According to Foresight officials, the company ability to make technological modifications to its system according to customer requirements allows Foresight to provide tailor-made solutions that may be suitable for different markets. These orders are part of the commercial agreement that was signed with Elbit Systems in Summer 2019.

The modified version of the QuadSight prototype including wide-angle field-of-view detection capabilities enhances on-road and off-road driving and enables the system to scan wider areas and detect more objects in the road ahead. These capabilities allow the decision-making system of the autonomous vehicle to make more accurate real-time decisions. This technological modification of the QuadSight prototype may also address the needs of different market segments, such as heavy-equipment vehicles, trucks and passenger cars.

“These orders mark a significant commercial milestone in both our business roadmap and relationship with our partner Elbit Systems. Entering a product development phase that includes customization of our unique vision system for potential end customers marks the next step in our collaboration with Elbit Systems and will allow us to expand our presence in the defense market,” said Foresight’s CEO Haim Siboni.