A surprising partnership for the Chinese search leader is well.
Share of Baidu ,Bidu 9.25%, On Tuesday, rapidly charged, increased by 9%. Up to 12:46 pm, the stock was still 8.5%.
The catalyst who sent Chinese tech veteran Higher was a high-profile partnership for this Self-driving car platform.
Image Source: Baidu
A leg in the market door around the world
In a joint press release, BAIDU revealed that it had joined the army Uber ,Uber -1.44%, To accelerate the deployment of autonomous vehicles worldwide. The pair announced “a multi-year-old strategic partnership to deploy thousands of Baidu’s Apollo Go Autonomus vehicles (AVs) on Uber platforms in many global markets outside the US and mainland China.” The press release stated that the attention will be on “increasing the supply of cheap and reliable ridersing options”.
The partnership of this magnitude can be a very large catalyst for Baidu. Uber is widely recognized as the world’s major ride-hinge and delivery platform. For reference, the company offered 3 billion rides in the first quarter, with more than 170 million monthly active platform customers. In addition, the number of both rides and riders is increasing on a healthy double -digit clip.
The Apollo Go fleet of Baidu already has a number of more than 1,000 driverless vehicles globally, which earns it the title of the world’s major autonomous ride-hinge service.
The first vehicle is expected to be deployed in Asia and Middle East at the end of this year. According to the press release, “After the launch, if a rider requests a qualifying uber trip, they can be fully presented by the driverless Apollo Go Autonomous vehicle with the option to complete their journey.”
Baidu is often called “Google of China”, and the search is the main occupation of the company. Baidu has expanded streaming videos, Artificial Intelligence (AI), Cloud Services and more beyond its original mandate, but its stock has been stuck in neutral in recent years. If the partnership with Uber is fruit, it can mark the next large thing for Baidu.
Like any company based in China, Baidu did one Additional riskHe said, -12 -Mahin’s earnings only 9 times, stock is attractively width.
Danny vena There is a situation in Baidu. Motley is located near the flower and recommend Baidu and Uber Technologies. Motley is near the flower Disclosure policy,
