As per the latest business news, tech giant Baidu
and the car manufacturer Geely
have established a joint venture. The name is to be Jidu Automobile. This is further solid evidence that Baidu wants to act as an automotive driving service provider and directly enter the vehicle manufacturing industry. Baidu holds 55% of the shares in the new subsidiary, while Geely holds 45%.
This briefing is contributed by and first appeared on CIMK.