(Yicai Global) May 27 -- Chinese Internet of Things service provider Gosuncn Technology Group has penned a deal to partner up with Baidu in its Apollo intelligent transport system for self-driving cars.

The pair will cooperate in the fields of vehicle-road collaboration, smart transport and the Internet of Vehicles, Gosuncn said in a statement yesterday. Shares in the firm, which provides environment and digital imaging monitoring systems to public service firms and banks, were 2 percent higher at CNY5.54 (X US cents) going into the lunch break.

Working with Baidu will help Gosuncn grow its IoV and connected vehicles business faster and make it more competitive, the Guangzhou-based firm added.

The companies have not decided on financial commitments, the statement said, adding that the impact on Gosuncn’s performance will depend on the final agreement the two companies sign.

Editor: James Boynton