Baidu’s intelligent electric vehicle arm JIDU has closed Series A financing, raising nearly $400 million. This round of financing was backed by Baidu and its strategic partner multinational auto manufacturer Zhejiang Geely Holding Group. JIDU’s first Robocar concept car will be unveiled at the Beijing Auto Show in April this year, with a mass-produced model set to be launched in 2023.
In January 2021, Baidu announced its plan to enter the automotive industry by launching a smart car company. In March, JIDU was established and received more than $300 million in start-up capital. Now, in the span of ten months, JIDU has received a new round of financing.
The success of the new round of financing will help JIDU accelerate its R&D and mass production of the Robocar. Moving forward, JIDU will expand its R&D team with a focus on talent acquisition, especially in fields including advanced autonomous driving, smart cockpit and smart manufacturing. JIDU will also build up a system to facilitate user growth and market operation.
As an important strategic initiative by Baidu in the field of intelligent mobility, JIDU is committed to creating a revolutionary Robocar that combines both intelligence and emotion.