Jidu will use the proceeds on research and development as the company aims to unveil a concept car in April.
China’s leading search engine Baidu is rushing to lead the race in popularizing driver-assistance features on consumer cars.
Baidu on Thursday unveiled a new robotaxi model, called Apollo Moon, with a manufacturing cost significantly lower than competitors.
Automakers in China is struggling to regain the momentum lost during a citywide lockdown in Shanghai that began in late March.
While Chinese companies won’t be the first to deliver road-ready lidar systems, they could be the first to do it at a practical price.
Big auto and big tech announced EVs at Auto Shanghai 2021, putting pressure on young EV upstarts.