Tuya Inc. (NYSE: TUYA), a leading provider of Internet of Things (IoT) solutions, experienced a remarkable 15% surge in its stock price during the 24-hour period leading up to Friday's pre-market trading session.
The rally can be attributed to Tuya's announcement of a strategic partnership with Chery, a major Chinese automaker. The collaboration aims to create a cutting-edge smart cockpit that seamlessly integrates automotive and home ecosystems.
Under the agreement, Tuya's advanced smart space solutions will be leveraged to enable real-time communication and control between passenger vehicles, in-car devices, and smart home systems. Drivers will be able to adjust lighting, air conditioning, and curtains at home through the car's infotainment system powered by Tuya's technology, providing a seamless transition from the road to their living spaces.
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