What's Going On Baidu Stock After Launching China's First 24/7 Robotaxi Service?

Baidu, Inc. BIDU on Thursday announced a significant operation upgrade for its autonomous ride-hailing service platform Apollo Go.

Apollo Go will now offer 24/7 autonomous driving service in selected areas of Wuhan, becoming China’s first provider to provide such a service.

Extending operations to round-the-clock marks a major milestone for Apollo Go, offering continuous autonomous driving services to cater to diverse needs, the company said in a press release. 

The expanded hours meet nighttime travel demands, enhancing safety and convenience.

In the recently reported fourth quarter, Baidu said Apollo Go provided about 839K rides, up 49% year over year. As of January 2, 2024, accumulated rides provided by Apollo Go on public roads surpassed 5 million.

On February 27, 2024, Apollo Go launched fully autonomous rides along the Yangtze River’s terrain, encompassing its north and south banks, including the Yangsigang Yangtze River Bridge and Wuhan Baishazhou Bridge. 

On February 23, 2024, Apollo Go introduced a similar service in Beijing, coinciding with Baidu’s approval for robotaxi pilot operations on highways leading to Beijing Daxing Airport.

Previously, in August 2023, Baidu introduced autonomous airport transportation services in Wuhan, solidifying its position as a trailblazer in China’s autonomous ride sector, seamlessly linking urban roads and highways. 

In the fourth quarter of 2023, the proportion of fully driverless orders within the overall order portfolio in Wuhan reached 45%, up from 40% in the third quarter of 2023.

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Price Action: BIDU shares are trading higher by 1.02% to $98.81 premarket on the last check Friday.

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