Why Foresight Autonomous (FRSX) shares Are Surging Today - Foresight Autonomous (NASDAQ:FRSX)

Foresight Autonomous Holdings Ltd FRSX has signed a joint development and supply agreement with SUNWAY-AI Technology (Changzhou) Co., Ltd.
SUNWAY is a Chinese manufacturer of components for autonomous and unmanned intelligent vehicles.
The agreement establishes a joint program for developing and supplying obstacle detection systems and cloud gateway for driverless vehicles.
Foresight's QuadSight technology will provide driver assistance features to Chinese airport vehicles.
The parties will also develop advanced driver assistance systems (ADAS) for airport ground support vehicles, using both visible light and thermal cameras.
Over the contractual period of four years, the deal may yield up to $51 million in revenue based on demand from SUNWAY.
In the first half of 2023, SUNWAY will commercialize the ADAS systems to its customers and third parties in Mainland China, Hong Kong, Taiwan and Macao.
Also, SUNWAY has secured exclusive commercialization rights in China regarding the ADAS systems for ground support vehicles used in airports.
Price Action: FRSX shares are trading higher by 14.17% at $0.6178 on the last check Wednesday.