After collaborating with Huawei, BAIC New Energy shares exceeded 20%

A few days ago, Huawei and BAIC’s subsidiary- BAIC New Energy has signed a deepening collaboration agreement. Both firms jointly working to develop a new brand in the ArcFox series that integrates with Huawei’s exclusive HiLink technology.

As cited in the document, the agreement contains a cooperation management mechanism, strengthen product research and development, and joint brand marketing. With this new agreement, the two parties increasing their business.

Notably, this contact has yet to come into practice and BAIC already seems to get the most benefits. The car OEM has recorded a shocking increase in its market value just after signed this framework agreement with Huawei.

Related: Huawei and BAIC deepening collaboration to launch new HI smart car brand

According to the reports from the China Stock market, BAIC Technology’s shares have exceeded by 20% in just three days. To be more precise, Huawei and BAIC New Energy announced their further collaboration on 26th September 2021. Just after it, the company’s market value springs on 27th, 28th, and 29th September.

Besides, the market analyzer is regarding this situation as abnormal stock trading fluctuation. In addition, investors are requested to pay attention as it’s just the beginning of the agreement.

Coming back to the collaboration contact, this contract has a 96 months validity. However, both firms can extend the duration as well as terminate it before the timeline with mutual concerns. Moreover, we are waiting for the next astonishing product with the capability of both firms, but we have high expectations after their last ArcFox series.

(Via- Ithome)