BRIEF: Breton, Rixin in deal for autonomous driving in mining

Construction machinery maker Breton Technology Co. Ltd. (1333.HK) said on Monday it recently entered into a two-year strategic cooperation agreement involving autonomous mining trucks with Fujian Rixin Machinery Leasing.

Under their agreement, Rixin plans to purchase 150 or more electric mining trucks with autonomous driving capabilities and related driving services from Breton for earth stripping, loading, transportation and dumping.

Rixin primarily engages in the leasing, sale and related operation and maintenance services of engineering machinery and equipment, according to Breton’s announcement. Its business scope covers South China’s Fujian province and surrounding regions, where it has construction experience and a regular client base in the mining sector.

Breton’s shares opened up 2.9% at HK$35.80 on Tuesday. The stock has doubled since it’s Hong Kong listing in May.

By Lau Chi Hang

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