（Cover Image Source: Electrive）
Reuters reported exclusively, citing sources familiar with the matter, that Baidu plans to collaborate with Geely to produce electric cars, and the production and manufacturing of the cars will be carried out in Geely’s factories.
Baidu will have majority ownership and absolute voting rights in the joint venture, while Geely will provide existing factory equipment. The collaboration will combine Baidu’s in-vehicle software with Geely’s engineering expertise. Sources further suggest that future product development may be based on Geely’s SEA platform.
（Li Shufu and Robin Li, Image Source: TechNode）
Following Reuters’ report, Baidu’s stock on Nasdaq rose more than 4%.
In December, it was reported that Baidu was considering car-making and had already held talks with Geely, GAC Motors, and FAW Hongqi.
Previously, Alibaba teamed up with SAIC to establish IM Auto, and Didi Chuxing partnered with BYD to make cars for ride-hailing services. In 2020, leading player in the electric vehicle industry Tesla delivered impressive results, while internet giants including Tencent, Amazon, and Google parent Alphabet also entered into the car-making field or invested in startup companies that produce electric and intelligent vehicles.
🔗Source: Reuters
This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.