AutoBeta(AutoBeta.net)03/02 Report--

On January 11th, Baidu and Geely Holdings announced that they would form a smart car company. Baidu said that the newly formed Baidu Automobile Company will target the passenger car market, and Baidu will enter the automobile industry as a vehicle manufacturer, allowing users to buy more advanced smart electric vehicles.

Nearly two months later, the joint venture between Baidu and Geely Holdings has made new progress. According to Tianyan check information, Jidu Automobile Co., Ltd. was officially established on March 2, with a registered capital of 2 billion yuan and a legal person Xia Yiping. The equity penetration map shows that Jidu Automobile Co., Ltd. is jointly owned by Shanghai Huapu Automobile Co., Ltd. (a subsidiary of Geely holding Group) and Dazi County Bairuixiang Venture Capital Management Co., Ltd. (a subsidiary of Baidu Netcom Technology). The former holds 45% of the shares, while the latter holds 55% of the shares.

The data show that the business scope of Jidu Automobile includes technical services, technical development, technical consultation, technology exchange, technology transfer, technology promotion, auto parts and accessories manufacturing of new energy vehicles and related parts.

On January 11, Baidu and Geely Holdings announced that they would jointly form an electric vehicle company. The new joint venture will be controlled by Baidu and operate independently for the passenger car market. In terms of business content, the new company will lay out the whole industry chain of intelligent vehicle design, development, manufacturing, sales and service.

On February 20, Baidu CEO Robin Li said on the Baidu fourth quarter conference call that the electric car joint venture with Geely has confirmed the CEO candidate and brand name and plans to launch a new smart electric vehicle product in the next three years. At present, the two companies are discussing the possibility of future product development based on Geely's "SEA vastness" architecture.

For more than a year, the rise of the new energy vehicle market and favorable policies promote the development of the new energy vehicle market, the capital market is heating up for new energy enterprises, and the share prices of car companies including Tesla, BYD, Ulai, Xiaopeng and other car companies continue to rise in 2020. It is precisely under this tuyere that more and more industry giants begin to enter the automotive industry, which has become a trend. In November, SAIC, Alibaba and Shanghai Pudong New area announced that they would jointly build a high-end smart car, "Zhiji car". Also in November, Changan Automobile announced that it would build a new high-end smart car brand with Huawei and Ningde era. In addition, Evergrande Xu Jiayin, Letv Jia Yueting, Gree Dong Mingzhu and Skyworth Huang Hongsheng all built cross-border cars one after another.

Some people in the industry believe that behind the entry of Internet technology companies to build cars is actually the transformation of the automobile industry, and electrification and intelligence have gradually become the trend of automobile development in the future. such a change will also have a huge impact on the traditional automobile market that has been shaped over the past century.

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