Baidu's electric vehicle (EV) arm Jidu Auto said on Wednesday that it had raised nearly $400 million from Baidu and Zhejiang Geely Holding Group in a fresh funding round.
Jidu, an EV venture between China's search engine company Baidu and Chinese automaker Geely, said in a statement that it would deliver its mass-produced "robot" cars in 2023.
There were no external investors participating in the round. The company did not provide any details on its valuation. to develop and make "robot" smart cars over the next five years, adding the financing would come from Baidu and other investors. Jidu, launched a year ago, is Baidu's latest effort to leverage its artificial intelligence expertise for car-making.Technology companies around the world from
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