Baidu Bags Approval For Robotaxi Trials In Beijing As Rivals Retreat

  • Baidu, Inc BIDU won the first license to test driverless vehicles on roads in Beijing.
  • Baidu will add another 200 robotaxis to its network across China in 2023, Reuters reports.
  • Baidu, which generates most of its revenue from its internet search engine, has been focused on self-driving technologies over the past five years as it looks to diversify.
  • Baidu started to charge fees for its robotaxi service Apollo Go 2021.
  • Baidu predicted robotaxis would eventually cost half of what it takes to ride in a commercial car with a driver.
  • Apollo Go, which operates in Wuhan and Chongqing without a safety driver, delivered 1.4 million driverless rides by the end of the third quarter.
  • Baidu said it would begin testing ten fully autonomous vehicles in a technology park developed by the government of Beijing.
  • Other companies outside China pulled back from the bullish launch schedule for fully autonomous vehicles predicted just a few years ago.
  • Tesla Inc TSLA has been under criminal investigation in the U.S. over claims that its electric vehicles can drive themselves.
  • U.S. auto safety regulators launched a safety probe of the autonomous driving system used by General Motors Co's GM robotaxi unit Cruise after incidents.
  • Price Action: BIDU shares traded lower by 1.03% at $113.92 premarket on the last check Friday.
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