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    BIDU   US0567521085

BAIDU, INC.

(BIDU)
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Baidu, Pony.ai Get China's Green Light to Charge for Robotaxis

11/25/2021 | 01:07am EST

By Yifan Wang

Chinese tech giant Baidu Inc. and Toyota Motor Corp.-backed startup Pony.ai Inc. have received China's first-ever regulatory go-ahead to begin charging consumers for driverless ride-hailing services on open roads.

The approval, granted by the head office of the Beijing High-level Automated Driving Demonstration Area, comes as global tech giants such as Alphabet Inc. and auto makers including General Motors Co. are rushing to compete in the red-hot "robotaxi" market.

With the new permit, Baidu and Pony.ai will be able to charge fees for robotaxi services offered to the public in a 60-square-kilometer designated area in southern Beijing.

Baidu said its commercial robotaxi service, known as Apollo Go, will include more than 600 pick-up and drop-off points in the Beijing district and will operate daily from 7 a.m. to 10 p.m.

Pony.ai said it has set up about 200 stations and will offer services from 8:30 a.m. to 10.30 p.m.

Before this milestone toward commercialization, both companies were testing driverless taxi services for free across China.

Baidu shares jumped in Hong Kong after news of the commercial authorization. The stock was recently 4.8% higher at 152.90 Hong Kong dollars.

Write to Yifan Wang at yifan.wang@wsj.com

(END) Dow Jones Newswires

11-25-21 0107ET

Stocks mentioned in the article
ChangeLast1st jan.
BAIDU, INC. -0.33% 150.58 Delayed Quote.1.47%
TOYOTA MOTOR CORPORATION -0.67% 2221.5 Delayed Quote.6.22%
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Analyst Recommendations on BAIDU, INC.
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Financials
Sales 2021 124 B 19 587 M 19 587 M
Net income 2021 13 684 M 2 165 M 2 165 M
Net cash 2021 125 B 19 737 M 19 737 M
P/E ratio 2021 33,2x
Yield 2021 -
Capitalization 332 B 52 546 M 52 589 M
EV / Sales 2021 1,68x
EV / Sales 2022 1,43x
Nbr of Employees 41 000
Free-Float 74,4%
Chart BAIDU, INC.
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Baidu, Inc. Technical Analysis Chart | BIDU | US0567521085 | MarketScreener
Technical analysis trends BAIDU, INC.
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 34
Last Close Price 954,99 CNY
Average target price 1 423,06 CNY
Spread / Average Target 49,0%
EPS Revisions
Managers and Directors
Yan Hong Li Chairman & Chief Executive Officer
Rong Luo Chief Financial Officer
Hai Feng Wang Chief Technology Officer
Cui Shanshan Senior VP-Human Resources & Administration
Ji An Ding Independent Director
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