(Yicai) Feb. 8 -- Share of IAT Automobile Technology jumped after the Chinese vehicle design and services provider announced a new collaboration with the Chinese arm of Japanese auto part supplier Yazaki to jointly develop core technologies for new energy vehicles.

IAT [SHE: 300825] closed up 11 percent at CNY9.19 (USD1.30) in Shenzhen today.

IAT and Yazaki China will set up a 50:50 joint venture that will develop high-voltage electrical systems for NEVs and create related auto parts with high versatility and cost-effectiveness, the Beijing-based company announced today.

Yazaki China is a Shanghai-based unit of Yazaki, a world-leading Japanese wire harness supplier serving most major international automotive manufacturers, IAT noted.

The collaboration is an example of IAT’s partnership with companies along the supply chain that have particular resources to drive the development of NEV technologies and auto parts, with IAT acting as the leader of the tie-up, the firm added. This way, IAT can deepen its layout in the automotive intelligence business and strengthen its cohesion with its carmaking clients and other supply chain partners.

The tie-up with Yazaki China will leverage Yazaki’s global customer network to drive new market development for IAT’s vehicle research and development solutions and core parts, IAT pointed out.

Editor: Futura Costaglione