Shares in digital map provider NavInfo Co jump as much as 10 pct to their highest since Sept 7, 2018, as the company joins hands with BMW.
Stock is up for 4th straight session, posts biggest intraday pct gain since mid-Aug. It has gained ~35 pct so far this year, far outperforming the benchmark Shanghai index.
Company says it is in deal to provide BMW vehicles sold in China with maps for self-driving cars.
According to the company, the deal will enhance the market competitiveness of its self-driving products.
The deal fully reflects its leading industry position in the area and marking the official start of the mass production of China’s self-driving industry.
Go to Source