(Yicai Global) July 28 -- Shares in Beijing Navinfo advanced as much as 5.2 percent today after the Chinese digital mapping giant said it will partner with internet-to-vehicle firm China Automotive Innovation to develop software and hardware solutions for autonomous driving and intelligent connected vehicles.
Navinfo’s share price [SHE:002405] closed up 2.84 percent at CNY13.78 (USD2.04). Earlier in the day it hit CNY14.10.
NavInfo and China Automotive will co-operate on software and hardware solutions for smart driving, the production and updating of high-precision maps and promotion of large-scale commercial application of autonomous driving technology, Beijing-based Navinfo said yesterday. Other areas include automotive chips, onboard big data, augmented reality and artificial intelligence applications.
NavInfo has expanded into intelligent connection services in recent years, winning several contracts with leading carmakers. Last December, Ford China signed it up to improve vehicle data security. In February, NavInfo’s Dutch unit said it will provide data services to Germany’s Volkswagen’s new infotainment platform and last month the digital mapmaker said it is teaming up with BMW to provide networking services for the German automaker’s cars sold in China.
Nanjing-based China Automotive, in which state-backed auto giants Dongfeng Motor and FAW Group each hold a 25 percent stake, specializes in developing new technologies such as intelligent electric chassis, hydrogen powertrains and smart connections.
Editor: Kim Taylor