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Geely-Baidu joint venture to invest around RM31 6 billion in smart cars - first product due in three years

26 April 2021 10:09 am / 0 comments According to a report by Reuters, Jidu Auto will invest 50 billion yuan (around RM31.6 billion) into producing smart cars over the next five years. The company is a joint venture between Baidu (55%) and Zhejiang Geely Holding Group (45%), with the partnership first being announced back in January this year. Jidu CEO Xia Yiping told the publication that the funding would come from Baidu and other investors, with the company aiming to launch its first EV in three years or sooner. He said the EV would target young customers and “look like a robot,” although the company would need to analyse market data before deciding on a final model.

Xia yipingZhejiang geely holding groupJidu autoSustainable experience architectureHangzhou bayஜெஜியாங் கீளி வைத்திருத்தல் குழுநிலையான அனுபவம் கட்டிடக்கலை

Chinese tech titan Baidu and carmaking giant Geely to pour $10b into making next-generation smart cars

. Chinese technology titan Baidu and carmaking giant Geely are to pour 50 billion yuan (US$7.7 billion) into making next-generation cars . Jidu Auto, the electric vehicle (EV) venture formed by Baidu and Geely in January, will invest the money over the next five years and aims to deliver its first smart car by 2024, Baidu confirmed in response to a Post inquiry . Reuters first reported the plan earlier on Friday. Jidu’s CEO Xia Yiping told the news agency the company will aim to bring out a new model every year or 18 months after the first one. [embed]https://youtu.be/PAMVogK2TTk[/embed]

United statesRobin liXia yipingPaul gongBaidu apolloTencent holdingsSouth china morning postAlibaba group holdingHuawei technologiesஒன்றுபட்டது மாநிலங்களில்ராபின் லிபால் காங்பைடு அப்பல்லோதெற்கு சீனா காலை போஸ்ட்அலிபாபா குழு வைத்திருத்தல்ஹூவாய் தொழில்நுட்பங்கள்

Baidu and Geely plan US$7 7bn smart car push

Jidu Auto (集度汽車), a joint venture of Chinese technology giants Baidu Inc (百度) and Zhejiang Geely Holding Group (吉利控股), aims to spend 50 billion yuan (US$7.7 billion) over the next five years on developing smart-vehicle technologies. Over the next two to three years, the joint venture aims to hire 2,500 to 3,000 staff for the project, including about 500 software engineers, it said. The branding for the nascent auto marque is set to be unveiled in the third quarter of this year, a Jidu spokesperson added. Baidu owns 55 percent of Jidu and Geely has a 45 percent stake in the

Xia yipingWilliam weiBaidu incZhejiang geely holding groupXiaomi corpBaidu to apple inc taiwaneseTesla incHon hai precision industry coTencent holdings ltdHon haiApple incFaraday futureThe taipei timesவில்லியம் வெய்பைடு இன்க்ஜெஜியாங் கீளி வைத்திருத்தல் குழு

Caixin Global - Latest Business and Financial News on China, U S Trade War and Negotiations, Breaking News, Headlines and Developments

Caixin Global - Latest Business and Financial News on China, U S Trade War and Negotiations, Breaking News, Headlines and Developments
caixinglobal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from caixinglobal.com Daily Mail and Mail on Sunday newspapers.

United arab emiratesFrance generalUnited statesCity ofUnited kingdomLos angelesLu weiLegal affairs commissionParis aprJidu autoCentral politicalஒன்றுபட்டது அரபு அமீரகங்கள்ஒன்றுபட்டது மாநிலங்களில்நகரம் ஆஃப்ஒன்றுபட்டது கிஂக்டம்லாஸ் ஏஞ்சல்ஸ்

Baidu s Jidu Auto to invest $7 7bn in smart cars

Baidu s Jidu Auto to invest $7 7bn in smart cars
thenationalnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenationalnews.com Daily Mail and Mail on Sunday newspapers.

Xia yipingZhejiang geely holding groupJidu autoHong kong listedBeijing based jiduHangzhou bayஜெஜியாங் கீளி வைத்திருத்தல் குழுஹாங் காங் பட்டியலிடப்பட்டுள்ளது