Key Takeaways From Baidu's First EV Launch

Baidu, Inc BIDU electric vehicle arm Jidu Auto launched a "robot" concept car via an online press conference held on Baidu's metaverse-themed app Xirang.
It is the first vehicle to be revealed by a Chinese internet company.
The concept car is free of door handles and is fully controlled via voice recognition, Reuters reports.
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Jidu looks to commercialize the model, which would be 90% similar to the concept car, in 2023.
The 'robot' EVs will possess autonomous Level 4 capabilities bypassing human intervention and utilize Qualcomm Inc's QCOM 8295 chips, which will enable users to access voice assistance offline.
Jidu will also build two lidars and 12 cameras alongside the car.
Jidu, co-funded by Chinese automaker Geely Automobile Holdings Ltd GELYY, will manufacture in Hangzhou Bay in China's eastern city of Ningbo, where Geely has several plants.
Jidu hired ex-Cadillac designer Frank Wu as its head of design, and Wang Weibao, a former Apple Inc AAPL EV initiative Project Titan, as its head of intelligent driving.
Price Action: BIDU shares traded higher by 2.44% at $150.58 on the last check Wednesday.
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