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.

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