Tesla was the number one EV seller in China last year. This year the competition is ramping up.
Via TechInAsia, April 24:
“Jidu Auto, a joint venture between Chinese giants Baidu and Zhejiang Geely Holding Group, aims to spend 50 billion yuan (US$7.7 billion) over the next five years on developing smart-car technology,” Bloomberg reported.Details:Context:
- As part of this plan, Jidu is looking to onboard between 2,500 and 3,000 staff, of which 500 will be software experts, over the next two to three years.
- The branding for the EV newcomer is set to be revealed in the third quarter of this year.
- The announcement comes after Xiaomi said it plans to invest US$10 billion to enter China’s growing EV space.
- Jidu’s CEO Xia Yiping previously said the company is aiming to launch its first model within three years, with new models slated to be introduced every year or 18 months.
