Baidu started talks with several Chinese carmakers to produce all-electric vehicles soon.
Baidu is a multinational tech company based in Beijing, specializing in Internet-related services and AI. It is actually one of the largest AI and internet companies in the world.
Recently, the Chinese conglomerate went through a tough phase due to the stagnant growth of its stock price. After reports suggested that the company plans to manufacture electric vehicles, many investors started taking an interest, and the share price increased right away.
Baidu has already held loose talks with many automakers in China, including China FAW Group, Guangzhou Automobile, and Zhejiang Geely Holding Group, to develop EVs. It might imply that, instead of building EVs from scratch, Baidu might collaborate with existing automakers and use existing platforms.
That being said, it isn’t the first time Baidu has shown interest in the EV business. The company has already been supplying its AI self-driving Apollo technology to significant players, including VW, Ford, and Toyota.
Besides, Baidu also has a self-driving taxi service in China known as Go Robotaxi. It currently operates in three major cities but not in fully-autonomous mode. A backup driver is still required to comply with Chinese regulations. Still, the company claims that it might change soon.
The automotive industry is currently on its course to a full-fledged EV revolution, and most car manufacturers started investing heavily. Thus, entering into the EV business is a logical and well-thought move for Baidu, especially if it wants to stay relevant in the future.