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. 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]

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 th...

Publishing date: Apr 23, 2021  •  5 hours ago  •  2 minute read  •  Article content BEIJING — Jidu Auto, the electric vehicle venture between China’s tech giant Baidu and Chinese automaker Geely, aims to pour 50 billion yuan ($7.70 billion) into making smart cars over the next five years, Jidu’s chief executive told Reuters on Friday. Xia Yiping said Jidu would aim to launch its first electric vehicle (EV) in three years, as is standard for the industry, but would make efforts to speed up that process. We apologize, but this video has failed to load. Try refreshing your b...

Baidu's Jidu Auto to invest $7.7 billion in 'robot' smart cars SECTIONS Last Updated: Apr 23, 2021, 04:02 PM IST Share Synopsis Xia Yiping said on Friday that the funding would come from Baidu and other investors and Jidu would aim to launch its first electric vehicle in three years, as is standard for the industry, but would make efforts to speed this up. Reuters Jidu Auto CEO Xia Yiping Jidu Auto, an electric vehicle venture between China's tech giant Baidu and Chinese automaker Geely, aims to plough 50 billion yuan ($7.7 billion) into producing smart cars over the next five years, its chi...

Share this article Share this article ResearchAndMarkets.com's offering.  Small and medium TSPs will fade away and TSP giants will come to the front As "smart car as a service" grows, automakers focus more on introduction of technologies or platforms from big data and cloud computing to security, content platform and artificial intelligence, providing more intelligent, more diversified content and value-added services, while making an expansion in OEM market. As the gateway for vehicle traffic flow, telematics service providers (TSP) are catering to the industrial change by constantly extend...