Baidu Bags Approval For Robotaxi Trials In Beijing As Rivals Retreat

Baidu, Inc BIDU won the first license to test driverless vehicles on roads in Beijing.
Baidu will add another 200 robotaxis to its network across China in 2023, Reuters reports.
Baidu, which generates most of its revenue from its internet search engine, has been focused on self-driving technologies over the past five years as it looks to diversify.
Baidu started to charge fees for its robotaxi service Apollo Go 2021.
Baidu predicted robotaxis would eventually cost half of what it takes to ride in a commercial car with a driver.
Apollo Go, which operates in Wuhan and Chongqing without a safety driver, delivered 1.4 million driverless rides by the end of the third quarter.
Baidu said it would begin testing ten fully autonomous vehicles in a technology park developed by the government of Beijing.
Other companies outside China pulled back from the bullish launch schedule for fully autonomous vehicles predicted just a few years ago.
Tesla Inc TSLA has been under criminal investigation in the U.S. over claims that its electric vehicles can drive themselves.
U.S. auto safety regulators launched a safety probe of the autonomous driving system used by General Motors Co's GM robotaxi unit Cruise after incidents.
Price Action: BIDU shares traded lower by 1.03% at $113.92 premarket on the last check Friday.