Minieye secures $19 million deal for 100 autonomous buses
Autonomous driving technology company Minieye Technology Co. Ltd. (2431.HK) said on Tuesday that it has inked an autonomous vehicle procurement contract worth 130 million yuan ($19 million) to supply an independent third-party buyer with driverless buses, autonomous driving kits, and supplementary technical services.
The contract entails the procurement of more than 100 driverless buses and related auxiliary services, Minieye said, adding the vehicles are primarily slated for use at local cultural tourism venues, and in micro-transit systems and public transportation scenarios.
Minieye said that the deal will help it further expand its market share in unmanned vehicles and auxiliary solutions and bolster its brand influence.
Shares of Minieye opened up on Wednesday, and were up 6.4% at HK$11.45 in late morning trading. The stock is down 64% from its 52-week high.
By Lau Chi Hang
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