(Yicai Global) Dec. 27 -- NavInfo’s stock price gained after the Chinese electronic maps maker said it will help Ford China to improve vehicle data security and comply with Chinese regulations on such data.
NavInfo [SHE: 002405] closed 4.8 percent higher today at CNY15.08 (USD2.37), after earlier climbing as much as 6 percent. The wider Shenzhen market ended little changed.
The Beijing-based software company, which also counts BMW, Daimler, Volvo Car and Toyota Motor as clients, made the announcement on Dec. 24.
China’s cyberspace watchdog issued tighter rules on vehicle data security on Oct. 1 to address the issue of smart vehicles generating and processing more data. Under the new rules, participants in the field must avoid collecting excessive data from vehicles and protect owner and user privacy.
In November 2020, NavInfo joined hands with several firms and research institutions to win a CNY100 million (USD15.7 million) tender by China’s industry and information technology ministry to set up an Internet of Vehicles data management platform.
Editor: Emmi Laine, Xiao Yi