China’s Baidu wants to launch robotaxi service in 100 cities by 2030
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Shougang Park, Beijing: Baidu’s first driverless taxi company in China launches on May 2, 2021.
Visual China Group | Qianlong.com | Visual China Group | Getty Images
GUANGZHOU, China — BaiduThe Chinese search giant plans to open its driverless taxi service to 100 cities in 2030. This is part of its strategy to diversify beyond its advertising business.
Baidu currently operates the Apollo Go service for robotaxis in five Chinese cities. An app allows users to hail an autonomous vehicle.
In an internal memo that was published, Robin Li Baidu CEO stated that Apollo Go will be expanded to 65 cities in 2025 and 100 by 2030.
Baidu’s speedy expansion plans highlight the company’s investments in autonomous driving. This area is a hot topic for analysts. see as being a multi-billion dollar businessFor the tech giant of the future.
Baidu earnings report
Baidu has announced its driverless vehicle announcement after reporting revenue of 31.92 trillion yuan ($4.95billion) for the third-quarter, which is ahead of market expectations.
Li cautioned that China’s slowdown in economic growth has had a negative impact on ad spending, especially in education and real-estate. Baidu still derives the bulk of its revenues from advertising.
The CEO spoke Wednesday on earnings calls, saying that he expects the headwind to persist in the short term.
Baidu’sAfter the figures, Hong Kong shares listed on Hong Kong stock exchanges fell by more than 8 percent.
Baidu invested in these areas to diversify its business. semiconductors to electric vehiclesAnd autonomous driving.
Baidu doesn’t build cars; it is the one behind the driverless technology. Baidu has a number of subsidiaries. partnered with various Chinese automakersIt plans to increase its robotaxi fleet.
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