Foreign Autonomous Holdings Ltd. (NASDAQ: FRSX) dropped 5.82% after the company announced that Eye-Net Mobile Ltd., its wholly-owned subsidiary, will partner in a pilot project with a Dutch company, V-tron B.V. V-tron is a company that develops road safety applications and telematics products for European lease cars and fleets.
V-tron to incorporate Eye protect in its units
Following the collaboration, V-tron will evaluate the Eye-Net Protect solution for incorporation into its application services and inboard units. This will help enhance the value of its innovations and minimize accidents by connecting road users and offering alerts regarding potential collisions in real-time.
Eye-Net Mobile deputy CEO and COO Dror Elbaz said, “We are excited to announce another pilot project for Eye-Net, this time from an automotive-related company seeking to enhance its existing Advanced Driver Assistance Systems (ADAS) and related safety applications with our cellular-based accident prevention solution.”
Third Eye-Net Protect pilot in the European Market
Elbaz explained that the collaboration would allow the company to expand its offerings to Europe, which is a significant commercial hub for verticals in which they are active. In addition, he said that the focus on the European market would lead to a critical mass for Eye-Net Protect customers, which enhances the possibility of preventing road accidents.
The companies will undertake the pilot project will be Eye-Net’s third in Europe after technological displays to a European cellular provide and collaborate with Wunder Mobility for Eye-net Protect to EV and micro-mobility operators. The Eye-Net Protect solution is an easy-to-use and intuitive mobile app that offers real-time alerts before the collision to protect road users and drivers. In addition, the solution enhances situational awareness and road safety for all users in an urban mobility environment by leveraging AI tech and advanced analytics.