[ad_1]
Published image, Getty Images
Geely electric vehicle at the Shanghai Auto Show.
Chinese internet research company Baidu has announced that it will partner with automaker Geely to produce smart electric cars.
Baidu will provide “intelligent leadership capabilities”, while Geely will provide design and manufacturing expertise.
Geely is one of the largest companies in the automotive industry in China and also owns Volvo and a stake in Mercedes-Benz, a subsidiary of parent company Daimler.
The two companies will compete not only with Elon Musk’s Tesla, but also with other competitors in China.
Robin Lee, Co-Founder and CEO of Baidu, said: “We believe that combining Baidu’s expertise in intelligent vehicles and autonomous transportation with Geely’s expertise as a pioneer in the automotive industry and electric vehicles would pave the way for a new partnership to produce passenger cars in the region. ” the future”.
Baidu established its Apollo autonomous driving unit in 2017, which primarily provides the technology through artificial intelligence and works with a number of international and Chinese automakers.
It is reported that China is a world leader in electric vehicles.
According to the International Energy Agency, 7.2 million electric cars were produced in 2019, of which China’s share was 47%.
S&P Platts, a global supplier of energy data, estimates that “new energy vehicles” will account for 20% of all new car sales in China by 2025.
“China has become the world’s largest market for electric cars, and we are seeing consumers of electric cars demanding that new cars be smarter,” Li said.
Baidu and Geely are likely to face stiff competition as global automakers and tech giants try to develop smart cars.
Internet giants, including Tencent, Amazon, and Alphabet Inc., have either developed standalone technology or invested in startups in recent years.
E-commerce giant Alibaba has entered into a joint venture with Geely rival SAIC Motors.
The announcement follows reports of a possible partnership between Apple and Hyundai in South Korea.
Hyundai shares rose more than 20% on Friday after initially saying it was at an “early stage” of talks with the iPhone maker over a possible partnership to produce electric cars.
But he reversed his position hours later, claiming to be in talks with a number of potential partners without mentioning Apple’s name.
Reports from Sunday say the two companies plan to close a deal by March, with production set to begin around 2024.
Source link
