Baidu (BIDU), which is sometimes referred to as “the Google of China,” has announced plans to partner with the Chinese automaker Zhejiang Geely Holding Group to establish a standalone EV unit.
Baidu is leveraging its technology and expertise in artificial intelligence (AI) and self-driving technology in the joint venture with Geely. The Chinese EV landscape is very competitive and includes companies such as Tesla (TSLA), BYD (BYDDF), and NIO (NIO). It’s expected to grow to $802 billion by 2027.
China consists of a great growth opportunity for the EV market. Especially since the Chinese government is supporting the industry through subsidies and vehicle charging infrastructure.