Geely, Baidu form new automotive joint venture

Beijing (Gasgoo)- Baidu and Geely together established a new joint venture on August 9, namely Hangzhou Ji and Yue Automotive Technology Co., Ltd. (referred to as "Ji and Yue), with a registered capital of 10 million yuan.

Ji and Yue's core operations primarily revolve around the automotive manufacturing sector, spanning new energy vehicle sales, retail of automobile components, electric vehicle charging infrastructure operation, battery sales, and pre-owned vehicle brokerage. Notably, Geely and Baidu's Mihang Automobile jointly hold shares in the company, with a 65% stake held by Geely and 35% by Baidu. 

ROBO-01; photo credit: JIDU

This strategic collaboration marks Geely and Baidu's second joint initiative, following their establishment of the JIDU brand in 2021. Notably, the general manager of Ji and Yue is also the CEO of JIDU, Mr. Xia Yiping.

In March 2021, Baidu and Geely joined forces to form the new automotive brand, JIDU. This transformative venture granted Baidu the status of an automaker and paved the way for a robust partnership between Geely and the tech giant. In June 2022, JIDU unveiled its first concept vehicle, the ROBO-01, within the virtual expanse of the metaverse.

Merely four months later, JIDU introduced its inaugural production model, the ROBO-01 Lunar Explore Limited Edition, which is available for pre-order at 399,800 yuan. Subsequently, the spotlight shifted to the Auto Guangzhou 2023, where JIDU unveiled the second all-electric sports coupe, the ROBO-02, a seamless evolution from the conceptual design philosophy of the ROBO-01.

The ROBO-01 is slated for large-scale deliveries in the third quarter of 2023, with the ROBO-02 expected to follow suit in 2024. The latter half of this year will serve as a pivotal period for assessing the market reception of Baidu's automotive pursuits.

JIDU has already established an array of brand experience centers in Shanghai and is set to expand into 46 cities this year, solidifying its presence with a comprehensive network of 100 sales outlets.