120 days ago • Posted by Martin Boujol

Baidu, the Chinese Tech giant, is creating its own EV company

The good news for Tesla is that they managed to popularize EVs. The bad news is that they also fueled fierce competition. They are partnering with Geely, who will make the hardware, while Baidu will work on the software. Baidu comes in addition to other giants like Apple and Google, also working on electric vehicles projects. Sales in China keep climbing, with a 4.4% increase in 2020 versus a 7.6% decline in overall passenger cars during the same period. 

Source: Zerohedge.com