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    1958   CNE100001TJ4

BAIC MOTOR CORPORATION LIMITED

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Baidu and BAIC's ARCFOX Team Up to Mass Produce Robotaxis

06/17/2021 | 03:57am EDT

By Fabiana Negrin Ochoa

Baidu Inc. is teaming up with BAIC Group to mass produce self-driving "robotaxis" at a fraction of the cost it takes to make a fully autonomous vehicle, the Chinese tech giant said Thursday.

The Apollo Moon generation of robotaxis will cost about $75,029 to manufacture, approximately a third of what it costs to make the average fully self-driving vehicle, Baidu said.

The lower cost of production should boost scalability and help drive the popularization and commercialization of fully autonomous ride-hailing services in China, said Baidu, which will develop the vehicles with BAIC Group's high-end electric-vehicle brand ARCFOX.

Baidu and ARCFOX plan to roll out a fleet of 1,000 Apollo Moon robotaxis in three years. Baidu has already started rolling out robotaxi ride-hailing services in Beijing, Shanghai, Guangzhou, Chongqing and other cities in China.

According to Baidu, the Apollo Moon will be armed with a slew of features that make it 10 times more capable than its predecessors, and give it a 99.99% success rate in ride-hailing in complex urban cityscapes. Some of the new features include a seat-belt reminder for rear passengers, an AI voice assistant and mobile app climate control.

Baidu and BAIC Group, the parent of auto maker BAIC Motor Corp., have been collaborating on autonomous driving since 2017.

Write to Fabiana Negrin Ochoa at fabiana.negrinochoa@wsj.com

(END) Dow Jones Newswires

06-17-21 0557ET

Stocks mentioned in the article
ChangeLast1st jan.
BAIC MOTOR CORPORATION LIMITED -0.72% 2.77 End-of-day quote.-3.48%
BAIDU, INC. -1.83% 164.01 Delayed Quote.-24.15%
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Financials
Sales 2021 192 B 29 753 M 29 753 M
Net income 2021 3 297 M 510 M 510 M
Net cash 2021 30 899 M 4 782 M 4 782 M
P/E ratio 2021 5,45x
Yield 2021 5,64%
Capitalization 18 457 M 2 857 M 2 857 M
EV / Sales 2021 -0,06x
EV / Sales 2022 -0,09x
Nbr of Employees 21 038
Free-Float 89,8%
Chart BAIC MOTOR CORPORATION LIMITED
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BAIC Motor Corporation Limited Technical Analysis Chart | 1958 | CNE100001TJ4 | MarketScreener
Technical analysis trends BAIC MOTOR CORPORATION LIMITED
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Mean consensus HOLD
Number of Analysts 21
Last Close Price 2,30 CNY
Average target price 2,51 CNY
Spread / Average Target 9,19%
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Managers and Directors
Wen Bing Huang President, CEO & Executive Director
De Ren Li Vice President, Director-Finance & Economics
Cheng Jun Li Chairman-Supervisory Board
De Yi Jiang Chairman
Song Lin Ge Independent Non-Executive Director
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