CAOCAO INC Surges Over 4% in Early Trading After Inking Strategic Deal With Dazhong Transportation

Deep News10:50

CAOCAO INC (02643) saw its shares jump nearly 5% during the morning session, trading 4.42% higher at HK$16.06 as of the latest check, with a turnover of HK$18.515 million. According to the company's official WeChat account, on August 3, CAOCAO INC signed a strategic cooperation agreement with Dazhong Transportation(Group)Co.,Ltd..

The partnership will focus on exploring collaboration in the Robotaxi mobility service sector, leveraging each party's strengths in autonomous driving technology, vehicle operations management, and urban transportation services. The goal is to jointly develop a new model for large-scale Robotaxi operations in Shanghai and the Yangtze River Delta region, thereby supporting the high-quality development of the intelligent connected vehicle industry.

Under the terms of the agreement, the collaboration will be phased in. Initially, both parties will jointly launch a Robotaxi demonstration operation, working together on aspects such as qualification upgrades, vehicle management, platform integration, ground support, and safety services. Once the policy environment and operational conditions are mature, they will advance toward a cooperative operation of a large-scale Robotaxi fleet, continuously optimizing the business model and operational system to enhance intelligent mobility service capabilities.

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