Eye-Net Subsidiary Signs LOI for Large-Scale V2X Pilot in Manila Metropolitan Area

summarizeSummary

Foresight's Eye-Net subsidiary has signed a non-binding LOI for a large-scale V2X pilot project in the Manila metropolitan area, potentially leading to significant smart-city integration.

check_boxKey Events

• LOI for Large-Scale V2X Pilot Project

  Eye-Net Mobile, a majority-owned subsidiary of Foresight, has entered into a non-binding Letter of Intent (LOI) with the City of Muntinlupa, Philippines, to conduct a large-scale V2X pilot project.

• Pilot Scope and Potential Integration

  The pilot project is intended to engage at least 8,000 road users across the city and, upon successful completion, may lead to the integration of Eye-Net's SDK solution into one of the city's mobile applications for collision avoidance and critical emergency services for its 600,000 residents.

• Strategic Expansion in Southeast Asia

  This LOI marks an important milestone in Eye-Net's expansion into smart-city applications in Southeast Asia, following recent progress with a European car manufacturer.

auto_awesomeAnalysis

Foresight's subsidiary, Eye-Net Mobile, has signed a non-binding Letter of Intent (LOI) with the City of Muntinlupa in the Philippines for a large-scale V2X pilot project. While non-binding and a pilot, this represents a significant potential expansion into smart-city applications in Southeast Asia for a company of Foresight's size. The pilot aims to engage at least 8,000 road users and could lead to the integration of Eye-Net's SDK into the city's mobile application for collision avoidance and critical emergency services for 600,000 residents. This follows a recent Proof-of-Concept agreement with a European car manufacturer, indicating continued progress in securing partnerships and validating its technology.