China’s Baidu, Geely put nearly $400 million into electric car venture Jidu


An outline of Jidu’s concept car is pictured here. Jidu is the electric car company set up by Chinese internet giant Baidu and automaker Geely. Jidu plans to begin mass production and deliveries of its first car in 2023.


BEIJING — Chinese tech company Baidu and auto manufacturer Geely are putting more money into the electric car venture Jidu that they partnered on just about a year ago.

Both companies announced Wednesday they are putting nearly $400 million into Jidu in a Series A financing round. The capital injection comes less than a year after Jidu was launched in March 2021 with $300 million in initial capital from undisclosed investors.

Baidu has majority ownership of Jidu,…


0 0 votes
Article Rating

Biden and Putin’s Ukraine crisis gets personal with sanctions threat

Previous article

Mortgage refinance demand plunges 13% as interest rates climb

Next article

You may also like

Notify of
Inline Feedbacks
View all comments

More in Autos