BAIC, Changan Auto Rise on Approval for Level 3 Driver Assist

BAIC Motor Corp. and Changan Auto Co. rose Tuesday after the two state-controlled automakers received China’s first permits for Level 3 advanced driver assistance, allowing conditional driverless operations in designated areas.

The Shanghai-traded shares of BAIC’s electric car unit Blue Park New Energy Technology Co. jumped by the daily limit of 10%, while Changan Auto climbed 5.5%.