Chinese internet platform and artificial intelligence company Baidu announced it will establish a company that produces intelligent electric vehicles, teaming up with auto manufacturer Geely.
For the new company, Baidu will provide intelligent driving capabilities to power the passenger vehicles, while Geely will contribute its expertise in automobile design and manufacturing.
Robin Li, co-founder and CEO of Baidu, said, “China has become the world’s largest market for [electric vehicles], and we are seeing EV consumers demanding next generation vehicles to be more intelligent.”
Thanks to the better-than-expected market recovery from the blow caused by the pandemic, China’s new energy vehicle industry continues to boom. NEV sales in China, which include electric, plug-in hybrid and fuel-cell vehicles, is expected to jump 40 percent in 2021 to 1.8 million units, the China Association of Automobile Manufacturers said in December.