1/11, 6:44 AM (Source: TeleTrader)
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Baidu, Geely enter electric vehicle partnership

Baidu Inc. announced on Monday that it has entered into a strategic partnership with Zhejiang Geely Holding Group to establish a company to produce intelligent electric vehicles. The tech company added it will "provide intelligent driving capabilities" for the vehicles with Geely's automobile design and manufacturing.

"We believe that by combining Baidu's expertise in smart transportation, connected vehicles and autonomous driving with Geely's expertise as a leading automobile and EV manufacturer, the new partnership will pave the way for future passenger vehicles," said Robin Li, Baidu's CEO. According to CNBC, Baidu will be the majority shareholder in the new company.

Breaking the News / DJ