Ford Is Fueling The Move In Wejo Stock Today: Here's Why

Wejo Group Ltd WEJO shares are trading higher Tuesday after the company announced a collaboration with Ford Motor Co F in Europe, which gives Wejo access to personalized connected vehicle data from Ford vehicles across the continent.

The collaboration will support the provision of data and insights to insurance providers that leverage user-based intelligence for end-to-end insurance. Insurance providers will be able to leverage the data to better understand driving behaviors and to drive efficiencies.

"We will continue to work with partners like Ford and other vehicle OEMs to look beyond insurance to identify all the use cases for connected vehicle data," said Richard Barlow, founder and CEO of Wejo.

Wejo focuses on the Smart Mobility cloud and software solutions for connected, electric and autonomous vehicle data.

Related Link: EXCLUSIVE: Wejo, Ford Bond To Enable End-to-End Insurance Offerings

WEJO Price Action: Wejo has a 52-week high of $13.80 and a 52-week low of $1.18.

The stock was up 24.7% at $1.52 at press time, according to data from Benzinga Pro.

Photo: courtesy of Ford.