EV Stocks Set To Rise On Baidu-Geely's EV Plans, NIO’s New Launch

3 min read | January 11, 2021 06:01 AM EST | By Team Kalkine Media

EV Stocks Set To Rise On Baidu-Geely's EV Plans, NIO’s New Launch

What We Know About the Baidu Inc-Zhejiang Geely Holding Group Deal

Zhejiang Geely’s future EV partner will be depending on its production expertise and the autonomous driving capabilities of Baidu, which has been working on self-driving vehicular technology for a while now, as per reports.
The new firm will reportedly seek strategic investment from Zhejiang Geely and be an independent subsidiary of Baidu Inc.
The Beijing-based search engine company will be entitled to a majority stake and complete voting rights in the new electric vehicle Zhejiang Geely, meanwhile, will have a minority stake.
The new collaboration will be based on Zhejiang Geely’s open-source EV architecture, Sustainable Experience Architecture (SEA), the company said on Monday.

Baidu Inc launched its self-driving unit, Apollo, back in 2017. The company also runs an driverless cab service called ‘Go Robotaxi’ in Beijing, Changsha and Cangzhou, and plans to expand its services to at least 30 cities in the next three years.

While its current driverless vehicle services are overseen by safety drivers, its recently got the approval to test run five cars without safety drivers in Beijing.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Incorporated (Kalkine Media), Business Number: 720744275BC0001 and is available for personal and non-commercial use only. The advice given by Kalkine Media through its Content is general information only and it does not take into account the user’s personal investment objectives, financial situation and specific needs. Users should make their own enquiries about any investment and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media is not registered as an investment adviser in Canada under either the provincial or territorial Securities Acts. Some of the Content on this website may be sponsored/non-sponsored, as applicable, however, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used in the Content unless stated otherwise. The images/music that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.