Baidu’s self-driving cars have racked up more-than a million miles in 13 Chinese cities
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Baidu’s self-driving cars have racked up more-than a million miles in 13 Chinese cities

Chinese internet giant Baidu, the company often described as a Chinese Google, hosted its Create AI developer conference in Beijing at the start of this month, and investors got an interesting take-away. The company’s self-driving program has racked up more than a million miles in 13 Chinese cities. That’s a massive step forward, and it bodes well for Baidu, given that there are forecast to be around 20 million autonomous and semiautonomous vehicles on US roads alone by 2030.

Baidu’s share price has appreciated by 6% over the past 30 days

Baidu July 12

Source: Yahoo Finance

Baidu said that its fleet of 300 autonomous vehicles has travelled 1.2 million miles in urban environments. The vehicles have managed to operate at “level 4” which, in autonomous terms, describes a system that can operate safely without oversight in select conditions. That’s a big step forward for Baidu, and Chinese authorities have recently approved a license for the company to conduct level 4 tests “on urban roads tunnels, school zones, and elsewhere.”

In separate but related news, Baidu announced that it’s partnering with Chinese automotive group Geely to supply the latter with DuerOS for Apollo – an autonomous operating system. Baidu’s CEO, Robin Li, said:

“Major historic progress in the field of mobility flows from advancements in cutting-edge technology in the transportation industry. Geely’s long history of technological focus has fast-tracked the carmaker as an innovative force in China’s automotive industry and a trendsetter in the era of intelligent vehicles. Baidu and Geely’s strategic partnership will empower AI to create more spontaneous and convenient interactions between humans and vehicles. It will … accelerate the intelligent transformation of the mobility industry, supporting China in its transformation to become a leader in the age of smart mobility.”

Disclosure

Dominion holds Baidu in its Global Trends Managed Fund


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