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The Buzz Show: Featuring Our Corporate News Recap on “Foresight Autonomous Light Rail Vehicle Order from Knorr-Bremse”
Foresight Autonomous Holdings
(NASDAQ: FRSX) shares shot up over 68% in premarket trading after the company received a request for two samples of its light rail vehicle system.
The order comes from an affiliate of Knorr-Bremse AG, which also ordered a customization of Rail Vision’s LRV system features according to Knorr-Bremse’s requirements.
Foresight Autonomous Holdings Ltd., founded in 2015, is a technology company engaged in the design, development and commercialization of sensors systems for the automotive industry. Through the company’s wholly owned subsidiaries, Foresight Automotive Ltd. and Eye-Net Mobile Ltd., Foresight develops both “in-line-of-sight” vision systems and “beyond-line-of-sight” cellular-based applications.
Foresight: Rail Vision Enters Electrically Powered Light Rail Vehicle Multi-Billion Dollar Market with Order from Knorr-Bremse NESS ZIONA, Israel (Business Wire) Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX),
an innovator in automotive vision systems, announced today that its affiliate, Rail Vision Ltd., has received an order from Knorr-Bremse Systeme für Schienenfahrzeuge GmbH, an affiliate of Knorr-Bremse AG (Frankfurt: KBX), for two samples of their light rail vehicle (LRV) system. In addition, Knorr-Bremse has ordered customization of Rail Vision’s LRV system features according to Knorr-Bremse’s requirements. Revenue from this order is expected to total approximately 400,000 Euro. Knorr-Bremse, a $17-billion European-based group, recently invested $10 million in Rail Vision, as reported by the Company on October 13, 2020. Foresight owns 19.36% of Rail Vision’s outstanding share capital.