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NEWS
Foresight and Bumhan, a Leading South Korean Bus Manufacturer, to Develop Autonomous Electric Bus Solution
Friday, 6th December at 8:07 am
Initially the parties will collaborate to develop and bring to market advanced 3D perception solutions for Bumhan's autonomous electric buses, with plans to expand their offerings into semi- and fully autonomous solutions for commercial vehicles
Ness Ziona, Israel, Dec. 06, 2024 (GLOBE NEWSWIRE) -- Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) ("Foresight" or the "Company"), an innovator in 3D perception systems, announced today the signing of a multi-phase collaboration agreement with Bumhan Motors Ltd. ("Bumhan"), a leading South Korean electric bus manufacturer, to develop advanced 3D perception solutions for semi- and fully autonomous electric buses.
Initially, the parties will collaborate to develop and bring to market advanced solutions aimed at improving the operational safety, vision accuracy, and efficiency of Bumhan's current and future electric buses. These solutions are designed to ensure optimal performance in various environmental conditions, including harsh weather and poor lighting. Looking ahead, the parties will expand their focus to develop and commercialize advanced 3D perception solutions for a variety of semi- and fully autonomous commercial vehicles, including Bumhan's autonomous electric trucks.
The parties aim to finalize a commercial agreement by the end of the first quarter of 2025. Bumhan projects a commercial sales target of 200 electric buses per year for 2025, with an anticipated increase to 3,000 electric buses and electric commercial vehicles annually by 2029.
Friday, 6th December at 8:07 am
Initially the parties will collaborate to develop and bring to market advanced 3D perception solutions for Bumhan's autonomous electric buses, with plans to expand their offerings into semi- and fully autonomous solutions for commercial vehicles
Ness Ziona, Israel, Dec. 06, 2024 (GLOBE NEWSWIRE) -- Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) ("Foresight" or the "Company"), an innovator in 3D perception systems, announced today the signing of a multi-phase collaboration agreement with Bumhan Motors Ltd. ("Bumhan"), a leading South Korean electric bus manufacturer, to develop advanced 3D perception solutions for semi- and fully autonomous electric buses.
Initially, the parties will collaborate to develop and bring to market advanced solutions aimed at improving the operational safety, vision accuracy, and efficiency of Bumhan's current and future electric buses. These solutions are designed to ensure optimal performance in various environmental conditions, including harsh weather and poor lighting. Looking ahead, the parties will expand their focus to develop and commercialize advanced 3D perception solutions for a variety of semi- and fully autonomous commercial vehicles, including Bumhan's autonomous electric trucks.
The parties aim to finalize a commercial agreement by the end of the first quarter of 2025. Bumhan projects a commercial sales target of 200 electric buses per year for 2025, with an anticipated increase to 3,000 electric buses and electric commercial vehicles annually by 2029.
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