Jidu, Baidu’s good EV arm raises US$400 million to speed up growth of first manufacturing mannequin with L4 autonomous driving know-how

Jidu Automotive, the good electrical car (EV) arm of Baidu, has obtained almost US$400 million within the newest spherical of financing to assist the event and manufacturing of a automotive with stage 4 (L4) autonomous driving know-how.

The corporate stated on Wednesday that the capital was raised from its two shareholders – search engine and synthetic intelligence agency Baidu and carmaker Zhejiang Geely Holding Group.

It comes after a US$300 million capital injection in March when the good EV builder was established by the 2 companions, with Baidu holding a 55 per cent stake and Geely the remainder.

Do you

Read More Read More

US sues to dam chipmaker Nvidia’s $40 bn merger with UK’s Arm

The US Federal Commerce Fee expressed issues concerning the merger of graphics chip maker Nvidia and cell chip know-how maker Arm Ltd.

US regulators filed a lawsuit Thursday to dam the $40-billion merger of graphics chip star Nvidia with cell chip know-how powerhouse Arm Ltd, fearing it will undermine competitors.

The transfer comes as US President Joe Biden strives to ramp up home chip manufacturing to ease American trade’s reliance on imports.

“The proposed vertical deal would give one of many largest chip corporations management over the computing know-how and designs that rival companies depend on to develop their very

Read More Read More