From Nasdaq.:

Cerence Inc. (CRNC) has been making significant progress in the automotive industry, reporting robust financial results and expanding its reach with a global auto penetration of 54%.

Among its numerous achievements, Cerence’s partnership with Great Wall Motor Company (GWM) is set to revolutionize in-car technology, providing an improved driving experience in 13 languages across 20 countries.

Cerence’s collaboration with GWM is in line with its ongoing expansion in the automotive industry, which also includes strategic partnerships with major companies such as Volkswagen, NVIDIA, and Microsoft. Cerence expects its first-quarter fiscal 2024 revenues to grow by 56.46%.

With the rise of electric vehicles, the demand for lithium batteries is expected to increase by 889%, providing significant investment opportunities as the industry undergoes exponential growth. The author of the article from Zacks Investment Research highlights the potential for huge gains, specifically in EV battery stocks.



Read more: Cerence (CRNC) Rides on Strong Clientele & Solid Partner Base