BlackBerry shares rose per cent in Toronto to C$16.95, their highest one-day gain since April.
Chinese internet search firm and Baidu and BlackBerry reportedly signed a deal to make a self-driving vehicle technology jointly. The deal was signed on Wednesday and as a result of the same, BlackBerry’s shares went up by 13 percent.
The deal concentrates on developing autonomous-driving technology with BlackBerry’s QNX software and it is expected to start gain profits by the next year.
Todd Coupland, CIBC Capital Markets analyst allegedly said, “The opportunity is global, it’s for a very large market and I think it’s a very solid win for BlackBerry.”
Analysts and investors allegedly expect QNX to become a key technology in the burgeoning self-driving vehicle industry. QNX will be the operating system for ‘Apollo’, a platform for self-driving vehicles that Baidu announced in April last year. And since then, Apollo has signed deals with many major automakers like Ford Motors, Hyundai Motor Group and several Chinese carmakers.
Recently, BlackBerry has also developed a software to run computer chips for automobiles that manage multiple safety-critical systems.
The two companies have reportedly gone on to say that they will also integrate its conversational AI system, CarLife, its and high definition maps with BlackBerry’s infotainment platform.