Baidu and Geely injected the cash in their electric vehicle joint venture and the proceeds will be used for R&D and mass production of the cars.
Internet group Baidu and carmaker Zhejiang Geely Holding Group provided $400m in series A funding for their China-based electric vehicle (EV) joint venture, Jidu, today, as the country’s EV ecosystem develops further. Incubated in March 2021 with $300m, Jidu is working on an artificial intelligence-enhanced autonomous EV system equipped with machine learning algorithms that help…
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