Baidu, Geely to put USD 7.7 billion into smart car joint venture over coming 5 years

Friday 23 April 2021 | 09:52 CET | News
Baidu's electric vehicle venture with Chinese automaker Geely, Jidu Auto, plans to invest CNY 50 billion (USD 7.70 billion) into making smart cars over the coming five years, Jidu CEO Xia Yiping told Reuters. Baidu owns 55 percent of Jidu, with Geely holding the remaining 45 percent. The joint venture is thinking of using the Baidu-designed Kunlun chip in its upcoming car models.

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.


Already registered?

Categories: Mobile & Wireless
Companies: Baidu
Countries: China / World
::: add a comment

Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Geely chairman launches smartphone production company Hubei Xingji Shidai

Published 28 Sep 2021 09:59 CET | China
Hubei Xingji Shidai Technology, a company founded by Geely Group Chairman Eric Li, has signed an agreement with the Wuhan ...

Geely starts mass production of commercial satellites

Published 28 Sep 2021 09:47 CET | China
Geely Technology Group has announced that 18 months after start of construction of its intelligent satellite production and ...

Baidu announces mass production of 2nd generation Kunlun AI chip

Published 19 Aug 2021 09:20 CET | World
Baidu announced the start of mass production of its second-generation Kunlun AI chip, Kunlun II, and also demonstrated industrial ...

Chinese chipmaker SigmaStar hopes to raise USD 780 mln in Shanghai IPO - report

Published 26 May 2021 10:04 CET | China
Chinese chipmaker SigmaStar is mulling an initial public offering in Shanghai that could raise at least CNY least 5 billion (USD ...

Baidu's Q1 revenues grow 25%, net income jumps 62,468%

Published 19 May 2021 08:08 CET | China
Baidu saw its total revenues reach CNY 28.1 billion (approximately USD 4.29 billion) in the first quarter of 2021, which ...

Baidu to demo comercialized autonomous driving, test driverless cars in Cangzhou

Published 15 Mar 2021 17:24 CET | China
Chinese internet platform and AI company Baidu has received qualifications for 35 vehicles to demonstrate commercialized ...

Baidu in talks to make smart electric vehicles with Chinese automaker Geely - report

Published 08 Jan 2021 09:49 CET | World
Baidu has in talks to joint venture to make smart electric vehicles (EV) with automaker Geely, Reuter reported. If successful, ...