Jidu Auto, an electric vehicle venture between China’s tech giant Baidu and Chinese automaker Geely, aims to plough 50 billion yuan ($7.7 billion) into producing smart cars over the next five years, its chief executive told Reuters.
Xia Yiping said on Friday that the funding would come from Baidu (9888.HK) and other investors and Jidu would aim to launch its first electric vehicle (EV) in three years, as is standard for the industry, but would make efforts to speed this up.
Its first EV would look like a “robot” and would target young customers, Xia said, adding that Jidu would
HONG KONG/BEIJING (Reuters) – China’s Xiaomi Corp plans to make electric vehicles (EVs) using Great Wall Motor Co Ltd’s factory, said three people with direct knowledge of the matter, making it the latest tech firm to join the smart mobility race.
The tech firm’s stock price was up more than 9% in afternoon Friday trade after Reuters reported the plan. Great Wall’s Hong Kong stock rose more than 15% and its Shanghai shares gained by their maximum 10% daily limit.
Xiaomi, one of the world’s biggest smartphone makers, is in talks to use one of Great Wall’s plants in China
WASHINGTON (Reuters) – California’s two U.S. senators are urging President Joe Biden to set a firm date to phase-out gas-powered passenger vehicles as the White House grapples with how to rewrite vehicle emissions rules slashed under President Donald Trump.
In an unreported letter going to Biden Monday, Democratic Senators Alex Padilla and Dianne Feinstein called on Biden “to follow California’s lead and set a date by which all new cars and passenger trucks sold be zero-emission vehicles.” They also urged Biden to restore California’s authority to set clean car standards.
In September, California Governor Gavin Newsom signed an executive order
BEIJING (Reuters) – China’s Geely plans to roll out electric vehicles under a new marque with different branding and sales strategies, people familiar with the matter said, as the Volvo owner looks to take on its main EV rival Tesla with higher-end vehicles.
The brand, positioned in the premium segment and named “Zeekr”, will be housed under Geely’s to-be-launched EV entity Lingling Technologies, according to three people, who declined to be named
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