Baidu & Geely Collaborate On Autonomous Driving Platform
Zacks Investment Research | Jul 07, 2019 09:22PM ET
Baidu, Inc. (NASDAQ:BIDU) is leaving no stone unturned to bolster presence in the autonomous driving space.
The ever-growing Chinese internet company has ramped up efforts in the self-driving vehicle space by teaming up with China-based automaker Geely. With the help of Geely, Baidu aims at strengthening presence in areas of automated driving, connected cars and smart mobility.
Under the partnership, Geely cars will come equipped with the GKUI19 connected vehicle solution, which will be powered by Baidu's DuerOS for Apollo.
The latest deal is inline with the company’s strategy to accelerate the use of smart vehicles in China and shape the future of smart mobility globally.
Baidu's Continuous Efforts in This Space
In the past few years, Baidu has made considerable progress in the self-driving space.Its major self-driving project called Apollo focuses on utilizing the Chinese tech heavyweight’s strengths in artificial intelligence to build a collaborative driverless car ecosystem.
Baidu recently revealed that its fleet of autonomous vehicles covered a distance of 2 million kilometer in urban road environments. In addition, the company has taken 438 new autonomous driving patents, thereby expanding its share in the self-driving space.
Moreover, Baidu has received permission for five autonomous driving tests from the Beijing Municipal Commission of Transport, which is a big milestone for the company. This gives Baidu the permission to test vehicles in real life traffic conditions.
These developments are likely to aid the company in rapidly penetrating the self-driving market, wherein safety and the prevention of accidents are most important.
Baidu, Inc. Price and Consensus
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