Posted on Jan 11, 2021 at 10:33 amUpdated Jan 11, 2021 at 10:43 am
It is an alliance that could wreak havoc, and not just on the other side of the world. While rumors of a partnership between Hyundai and Apple have been in full swing for a few days, it is in China that two automotive and tech giants are joining forces: Baidu, the “Chinese Google”, Geely, the manufacturer that owns Volvo, will jointly produce electric cars with or without drivers through ‘a joint venture. And a new brand.
The entity will be an independent subsidiary of Baidu, the search giant said. According to Reuters, the latter will hold a majority stake in the company as well as control of the voting rights. No timetable has been specified.