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Tesla Inc is searching for a design director in China, part of efforts to open a full-function studio in Shanghai or Beijing and design electric cars tailored to Chinese consumer tastes.Baidu Inc said it will set up a company to partner with carmaker Zhejiang Geely Holding Group to make smart EVs
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The partnership deal with Geely goes beyond the production of cars. In this new venture, Baidu will take full control or absolute power and the majority stake of the company.
Baidu Inc (NASDAQ: BIDU), a Chinese Search heavyweight has announced to move from the production of mere software to the production of electric vehicles. This will be done by collaboration with Chinese Automaker, Geely Automobile Holdings Ltd (OTCMKTS: GELYF). According to the report, Geely will be in charge of the manufacturing and the designing of the car while Baidu controls the smart driving technologies.
Apple needs to tap luxury car market
By Alex Webb / Bloomberg Opinion
If Apple Inc is going to make a success of its car project, it has to target the US$230 billion luxury auto market. Doing so might be the only way to keep investors happy.
However, displacing 125-year-old incumbents like Mercedes-Benz would not be straightforward.
The iPhone maker has reignited efforts to build its own vehicle, Reuters reported last month, although it is at least five years away from production, Bloomberg News revealed on Thursday.
Apple Inc CEO Tim Cook speaks in a special event at Apple Park in Cupertino, California, on Nov. 10 last year.