(Yicai) Dec. 1 -- Shares of IAT Automobile Technology rose after the Chinese vehicle design and services provider announced a new collaboration that will boost the use of artificial intelligence in its research and development.

IAT Auto [SHE: 300825] closed 3 percent up at CNY15.35 (USD2.20) in Shenzhen today, after jumping by as much as 5.1 percent at one point.

IAT Auto signed a cooperation framework agreement with Beijing Yizhuang Smart City Research Institute Group, a computing infrastructure construction unit owned by the Beijing city government, in a deal that will create an AI-integrated automobile R&D ecology, it said in a statement late yesterday.

The Beijing-based company did not give any further details.

IAT Auto has said before that AI technology will be an important part of its development strategy, and it has already started operating an intelligent computing center in Wuxi, the statement noted.

Editor: Tom Litting