Baidu Ditches Building EV Plan as Venture with Geely Renamed to Ji Yue

BEIJING, August 16 (TiPost)— Baidu Inc. seems to scrap its efforts for automaking as its key venture in electric vehicle (EV) sector embraced a reorganization.

Credit：Visual China

Chinese automobile manufacturer Zhejiang Geely Holding Group announced introduction of Ji Yue, a premium intelligent technology brand, earlier this week. The new brand suggests Jidu, Baidu’s EV joint venture with Geely officially had a new name. Jidu’s first model ROBO-01 was accordingly renamed to Jiyue 01. The e-SUV launched last year was listed in the latest batch of new automobile product catalogue published by the Ministry of Industry and Information Technology, which means Chinese authorities recognized the model as one qualified for marketing.  

Calling the rename a significant milestone for strategic partnership with Baidu, Geely said Ji Yue primarily aims to provide an unparalleled intelligent automotive experience. The flagship Ji Yue 01 is set to debut in the fourth quarter of the year, , harnessing the benefits of Geely Holding’s acclaimed automotive manufacturing expertise, including the Sustainable Experience Architecture (SEA) and an established supply chain, along with Baidu’s cutting-edge and industry-leading artificial intelligence technologies, including advanced intelligent cabins and autonomous driving. Beyond the model, the brand will also build and develop its own charging network in China to meet consumer demand for smart intelligent electric vehicles.

Ji Yue is a brand under Hangzhou Jiyuyue Automotive Technology Co Ltd that was mainly controlled by Geely. Geely holds 65% stakes in the company, established on August 9, and Baidu holds 35% through its affiliate Shanghai Mihang Automobile Co., Ltd, while Jidu is a venture that 55% of shares owned by Baidu and remained 45% by Geely. The equity structure of Ji Yue reflects Baidu’s role shift to a technology provider, handing over the decision-making power of vehicle production to Geely, as the internet giant has strived for EV-making qualification and mass production these years.

From the leading shareholder to a technology partner, rebrand of Baidu’s venture Jidu signals Robin Li, head of Baidu, may determine to drop his plan to make EVs and get back to his previous pursuit in 2018, when Li said his company will only do the research and development (R&D) of autonomous driving technology that it is good at, rather than building its own cars, developing production lines or design engines, Tencent News commented, adding that artificial intelligence (AI) and related big models have become Li’s top strategy.

Baidu said in January, 2021 its plan to enter the automotive industry by launching Jidu with Geely. Jidu was officially founded in March that year with over US$300 million in start-up capital. In the span of ten months since then, Jidu raised nearly US$400 million in the financing round backed by Baidu and Geely. The EV arm unveiled its first concept production robocar Robo-01 in June, 2022. The robocar features futuristic designs including a U-shaped folding steering wheel, 3D borderless integrated ultra-clear screen, 3D human-machine co-driving map, full-scene voice inside and outside the car, millisecond voice response and offline intelligent voice assistant. The first verification prototype of Robo-01 rolled off the production line in last October, then Baidu released Robo-01 Lunar Limited Edition, starting RMB399,800 and scheduled to begin delivery this year. Jidu’s autonomous driving tech is a generation ahead of Tesla, Robin Li said in August last year. Jidu made debut of its second model Robo-02 at Guangzhou auto show in late 2022. The AI-powered sedan Robo-02 has a similar front end to Robo-01, and it also has no door handles. Owners can open its doors with voice command or Bluetooth.

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