China’s search giant Baidu to set up an EV making venture
Baidu’s vehicle push is part of its effort to diversify a company relying on search marketing profits. New media platforms such as ByteDance’s Toutiao news aggregator and short-video app Douyin come with their own search function and have slowly eroded the share of standard search engines like Baidu. The brand-new endeavor will operate as a Baidu subsidiary where Geely will serve as a strategic partner and Baidu units like Apollo and Baidu Maps will contribute abilities.
Baidu’s vehicle push is part of its effort to diversify a service relying on search marketing revenue. New media platforms such as ByteDance’s Toutiao news aggregator and short-video app Douyin come with their own search function and have actually slowly worn down the share of traditional search engines like Baidu. Baidu has actually been working aggressively on self-governing driving given that 2017. The brand-new venture will run as a Baidu subsidiary where Geely will serve as a strategic partner and Baidu units like Apollo and Baidu Maps will contribute capabilities.