(Yicai Global) July 4 -- Navinfo’s stock price climbed after the Chinese provider of digital maps said it has joined hands with artificial intelligence unicorn Horizon Robotics to develop autonomous driving technology.

Navinfo’s shares [SHE: 002405] jumped as much as 8.1 percent in Shenzhen today before paring gains to close at CNY12.32 (USD1.71) each, up 6.1 percent.

Navinfo and Horizon signed a strategic cooperation framework agreement on the research and development of new-generation solutions for self-driving passenger cars, the Beijing-based firm said today. The pair will also promote the mass production of cost-effective autonomous driving solutions in cars, it added.

Navinfo’s navigation, human-machine driving, and high-precision map capabilities will be added to Horizon’s assisted driving and urban autonomous driving-related products to create industry-leading smart driving solutions, Navinfo noted.

Moreover, Horizon will provide its new partner with high-quality chip products, solutions, and technical support, Navinfo said, adding that the parties will also leverage the unique advantages of their respective chip products to create a combined chip solution.

Founded in 2002, Navinfo was China’s first company to get an electronic navigation mapping license and has been focused on the high-precision map business since 2015. The joint ventures of Chinese auto giants with Toyota, BMW, Volkswagen, and Ford are among Navinfo’s main clients.

Horizon was established in 2015 by Yu Kai, a former executive at Baidu. It is the only smart auto chip startup in China to have received pre-installed mass production verification.

Last October, VW’s software unit Cariad said it would invest EUR2.4 billion (USD2.6 billion) to take a 60 percent stake in a JV with Horizon to develop advanced driver assistance systems and self-driving solutions.

Editor: Futura Costaglione