BlackBerry Shares Up After Selection to Provide Foundation for EV Development Platform
By Robb M. Stewart
BlackBerry's shares jumped Monday after the Canadian company was picked to provide software and services to the Foxconn Technology-led Mobility in Harmony consortium seeking to create an open ecosystem to accelerate innovation in the electric vehicle industry.
In afternoon trading, the stock was 5.7% higher at C$6.64 in Toronto, widening the gain so far this year to 51%. On the New York Stock Exchange, the shares were ahead 6.2% at $5.05, for a year-to-date rise of 55%.
BlackBerry said it will provide the foundation for the consortium's platform, which will use a range of its software and services including its QNX product portfolio and cloud-connected, automotive AI platform BlackBerry Ivy.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
July 31, 2023 14:41 ET (18:41 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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