Horizon Robotics-W (09660.HK) experienced a significant intraday surge, soaring 6.07% on Wednesday. The sharp upward movement reflects a swift shift in market sentiment for the autonomous driving technology company.

The stock's rally was primarily driven by the announcement that Volkswagen Group China is deepening its artificial intelligence collaboration with Horizon Robotics. Volkswagen's China-based automated driving unit, CARIZON, will accelerate the development of Level 3 and Level 4 self-driving technologies through this partnership, with deliveries of L3 capabilities targeted to begin in the second half of next year.

According to the partnership details, CARIZON has gained white-box access to Horizon's AI foundation model, marking a significant step in the strategic collaboration. This development with a major global automaker has bolstered investor confidence in Horizon Robotics' technology and future business prospects in the competitive autonomous driving sector.