Baidu partners with Geely to launch EV venture Jidu Auto, holding 55% stake

Its registered capital is RMB 2 billion, and its legal representative is Xia Yiping, the ex co-founder and chief technology officer of Mobike.

On March 2, a new joint venture company was jointly established by Geely and Baidu. The new company was named Jidu Automobile (集度汽车), according to the company search Qichacha.

Its registered capital is RMB 2 billion, and its legal representative is Xia Yiping, the ex co-founder and chief technology officer of Mobike.

Jidu Automobile is jointly held by Dazi County Bai Ruixiang Venture Capital Management (a Baidu affiliate) and Shanghai Maple Automobile (SMA, a Geely affiliate), holding 55% and 45%, respectively, Qichacha shows.

In addition, Jidu Automobile will have five board members, including Xia Yiping, three directors are from Baidu and one director is from Geely.

According to the platform, the business scope of Jidu Auto includes: technical services for new energy vehicles and related parts; manufacturing of auto parts and accessories; sales of new energy vehicles; auto parts wholesale; auto parts retail; sales of auto decoration products; sales of new energy vehicle production and testing equipment; sales of new energy vehicle battery swap facilities; sales of new energy vehicle electrical accessories; car rental, etc.

On January 11 this year, Zhejiang Geely Holding Group and Baidu jointly announced that the two parties will form an intelligent electric vehicle company.

According to the information disclosed by Geely and Baidu, the cooperation between the two parties will be based on Geely’s latest research and development of the world’s leading pure electric architecture, Haohan SEA Intelligent Evolutionary Experience Architecture.

Baidu will leverage its core advantages in artificial intelligence, Apollo’s intelligent driving solutions, Xiaodu In-Car OS, Baidu Map, to fully empower this automobile unit.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2021/03/03/geely-and-baidu-lauches-jidu-automobile-with-baidu-holding-55/.

Leave a Reply

Please Login to Comment