GUANGZHOU, China – Baidu plans to launch its car-free service in 100 cities by 2030, as the Chinese search company looks to expand its business beyond advertising.
Currently, Baidu is delivering the Apollo Go robotic taxi service to five China cities. Users can call the car independently via the app.
The company plans to expand Apollo Go to 65 cities by 2025 and again to 100 cities by 2030, CEO of Baidu Robin Li said in an internal letter that was widely circulated.
Baidu’s plans to expand the company’s financial position in the autonomous platform, which analysts view as a multi-billion dollar business for future technology.
Baidu’s earnings report
Baidu’s announcement that no traffic comes after the company announced a $ 39.92 billion ($ 4.95 billion) third quarter, which was ahead of market expectations.
However, Li warned that spending was hampered by China’s economic downturn, especially in areas including education and territories. Baidu continues to make a lot of money from marketing.
“We hope this crisis will continue shortly,” the CEO said in a financial statement on Wednesday.
Baidu’s Hong Kong-listed shares fell more than 8% on Thursday after the high.
To expand its business, Baidu has invested in components from semiconductors to electric vehicles and stationary vehicles.
Baidu is not building a car but behind the scenes, there is no driver in the car. The company has partnered with many Chinese manufacturers to expand its robots fleet.