Baidu is latest Chinese firm to invest significantly into self-driving technologies

Baidu and Geely will invest $7.7 billion in autonomous driving technologies and vehicles through it Jidu Auto join venture.

The new company will hire at least 2,500 software engineers over the next 3 years and is expecting to launch It’s first vehicle within 3 years. Updated models are expected every 18 months. Vehicles will be electric, resembling “robots” to attract a targeted younger audience. No expected pricing is available at this time.

Baidu is the latest mega Chinese firm to invest in electric vehicles and autonomous driving vehicles, along with new partner Geely Vehicles

Baidu will be the larger investor/partner with a 55% stake, while Geely while own the remaining 45%. Geely also recently reported a new brand of electric vehicles named Zeekr, no news how this partnership will affect that announcement.

Read more https://www.nasdaq.com/articles/baidu-and-geely-to-invest-%247.7b-in-smart-car-tech-report-2021-04-26