Market Chatter: GAC to Boost Collaboration with Huawei on Smart Vehicles; Hong Kong Shares Jump 7%

MT Newswires Live09-30

Guangzhou Automobile Group (HKG:2238, SHA:601238), or GAC, aims to enhance its collaboration with Huawei Technologies to include self-driving technologies in its cars, Yicai Global reported Friday, citing GAC General Manager Feng Xingya.

The car manufacturer said it will set aside funds for technologies to help the company gain a competitive edge, the report said, citing Feng's remarks at the 2024 Fortune Global 500 Summit.

Both companies are already collaborating on its Trumpchi self-driving car series, and also working together on intelligent car cockpits and autonomous driving systems, the report said.

GAC's Hong Kong shares rose 7% while its Shanghai shares jumped 6%.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price (HKD): $3.07, Change: $+0.21, Percent Change: +7.34%

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