Baidu and Uber Join Forces to Accelerate Autonomous Vehicle Deployment
Rhea-AI Summary
Baidu (NASDAQ: BIDU) and Uber (NYSE: UBER) have announced a strategic multi-year partnership to deploy thousands of Apollo Go autonomous vehicles on Uber's platform across global markets, excluding the U.S. and mainland China.
Apollo Go, currently operating over 1,000 fully driverless vehicles across 15 cities including Dubai and Abu Dhabi, has completed more than 11 million cumulative rides. The partnership will begin deployments in Asia and the Middle East in 2025, allowing Uber users to request rides in driverless Apollo Go vehicles for qualifying trips.
Positive
- Strategic partnership expands Baidu's autonomous vehicle presence globally
- Apollo Go has proven track record with over 11 million rides completed
- Access to Uber's extensive network will accelerate AV adoption
- Current operational fleet of over 1,000 vehicles demonstrates scalability
Negative
- Excludes key markets of U.S. and mainland China
- Implementation timeline and specific market details remain unclear
News Market Reaction 118 Alerts
On the day this news was published, BIDU gained 8.65%, reflecting a notable positive market reaction. Argus tracked a peak move of +4.3% during that session. Argus tracked a trough of -4.9% from its starting point during tracking. Our momentum scanner triggered 118 alerts that day, indicating very high trading interest and price volatility. This price movement added approximately $2.58B to the company's valuation, bringing the market cap to $32.42B at that time. Trading volume was very high at 4.1x the daily average, suggesting strong buying interest.
Data tracked by StockTitan Argus on the day of publication.
The first deployments are expected in
As the world's leading autonomous ride-hailing service, Apollo Go deploys an operational fleet of over 1,000 fully driverless vehicles globally with its global footprint spanning 15 cities, including
"We are committed to bringing the benefit of autonomous driving technology to more people in more markets, and this partnership with Uber represents a major milestone in deploying our technology on a global scale," said Robin Li, Co-founder, Chairman, and CEO of Baidu. "We look forward to working with Uber to deliver safe and efficient autonomous mobility solutions to riders around the world."
"This partnership brings together two of the world's most iconic technology companies to help shape the future of mobility," said Dara Khosrowshahi, CEO of Uber. "As the world's largest platform of its kind, spanning mobility, delivery, and freight, Uber is uniquely positioned to help AV leaders like Baidu bring their autonomous technology to the world."
About Baidu:
Founded in 2000, Baidu's mission is to make the complicated world simpler through technology. Baidu is a leading AI company with strong internet foundation, trading on the NASDAQ under "BIDU" and HKEX under "9888." One Baidu ADS represents eight Class A ordinary shares.
About Uber:
Uber's mission is to create opportunity through movement. We started in 2010 to solve a simple problem: how do you get access to a ride at the touch of a button? More than 61 billion trips later, we're building products to get people closer to where they want to be. By changing how people, food, and things move through cities, Uber is a platform that opens up the world to new possibilities.
Media Contact:
Baidu
intlcomm@baidu.com
Uber
press@uber.com
View original content:https://www.prnewswire.com/news-releases/baidu-and-uber-join-forces-to-accelerate-autonomous-vehicle-deployment-302505303.html
SOURCE Baidu, Inc.