Chinese Automaker Selects BlackBerry’s Technology for Its New EV
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Chinese Automaker Selects BlackBerry’s Technology for Its New EV

Story Highlights

China’s Hozon New Energy Automobile has selected BlackBerry’s QNX technology for its soon-to-be-produced EV.

China-based Hozon New Energy Automobile Co. Ltd.’s electric vehicle (EV) brand NETA AUTO has chosen BlackBerry Ltd.’s (TSE: BB) (NYSE: BB) QNX technology for its NETA S sports sedan. The technology will ensure that the vehicle’s critical systems are reliable, safe, and secure from cyber threats.

Under the agreement, the soon-to-be-produced EV’s intelligent technology cockpit will offer BlackBerry QNX Hypervisor and QNX Neutrino RTOS. Additionally, the EV company’s intelligent ADAS technology, NETA PILOT 3.0, will feature the QNX OS for Safety.

The Vice-President of Asia-Pacific at BlackBerry Technology Solutions, Dhiraj Handa, said, “BlackBerry is pleased to empower China’s new energy automotive brands with our latest technologies, helping NETA AUTO expand its footprint for the future of safe & secure mobility.”

The Executive Vice-President of Intelligent Institution at Neta AUTO, Zhang Qi, said, “BlackBerry is the industry leader in automotive embedded systems, providing us with a safety-certified software foundation. In the future, NETA AUTO will continue to collaborate with BlackBerry to bring more convenient, enriched and intelligent automotive life experiences to our customers.”

About BlackBerry

Headquartered in Ontario, BlackBerry offers intelligent security software, services, and solutions to government and corporate clients across the world. It makes use of machine learning and artificial intelligence to develop data privacy, safety, and cybersecurity solutions.

The company is scheduled to release its second-quarter results next month. The Street expects BlackBerry to report a loss of C$0.01 per share, narrower than the year-ago loss of C$0.08 a share.

In the first quarter, it posted a loss of C$0.07 per share, wider than the previous year’s loss of C$0.06 but narrower than the consensus loss estimate of C$0.08 per share.

Based on three Holds and one Sell, the stock has a Hold consensus rating. BB’s average price target of C$7.69 implies 2.3% downside potential from current levels.

Bloggers Like BlackBerry

TipRanks data shows that financial bloggers are 70% Bullish on the stock, compared to the sector average of 65%.

Prospects Look Bright for BlackBerry

Blackberry has been working hard to turn its fortunes around, and this deal is a step in that direction. The agreement with Hozon New Energy will help boost the Canadian company’s presence in the Chinese automotive market.

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