BlackBerry Ltd BB shares are trading higher by more than 5% in Wednesday’s premarket session after the company announced Volvo ADR VLVLY has selected the company's QNX for its dynamic software platform.
BlackBerry QNX will serve as the foundational software for Volvo’s main domain controller ECUs in more than 300,000 heavy vehicles Volvo manufactures every year.
BlackBerry says QNX is trusted by more than 68% of the electric vehicle market by volume, 23 of the top 25 EV manufacturers and is running in more than 175 million vehicles globally.
BlackBerry, once known for being the world's largest smartphone manufacturer, is now exclusively a software provider with a stated goal of end-to-end secure communication for enterprises.
The company provides endpoint management and protection to enterprises, specializing in regulated industries like government, as well as embedded software to the automotive, medical, and industrial markets.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
