On August 9, Chinese automaker Geely and tech giant Baidu jointly established an automotive technology company with a registered capital of RMB 10 million ($1.38 million). Geely and Baidu’s wholly-owned subsidiaries hold 65% and 35% stakes in the new company, respectively. Currently, neither Geely nor Baidu has disclosed the development direction of their new joint venture, but the newly established company’s business scope comprises sales of new energy vehicles, operations of EV charging infrastructure, and sales of batteries and digital technology services according to the publicly available information on corporate data site Tianyancha. Geely and Baidu previously established the robocar brand JIDU together in March 2021. In October 2022, JIDU’s first model, the limited ROBO-01 Lunar Edition, was officially unveiled at a price of RMB 399,800 ($55,292). The vehicle was developed based on Baidu’s Apollo autonomous driving technology and was manufactured by Geely. [IT Home, in Chinese]
