Jidu Auto, the electric-vehicle joint venture between Chinese tech giant Baidu and carmaker Geely, will invest 50 billion yuan, about $7.7 billion, to develop a smart car, the company’s CEO told Reuters. The company aims to launch an electric vehicle within three years. Baidu has been developing autonomous and other car-related software under its Apollo program. Baidu joins tech companies such...
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Baidu’s Joint Venture With Automaker Geely to Invest $7.7 Billion in Smart Cars
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The Briefing markets startups
Forget the IPO Window. Watch for More M&A
Here’s some food for thought about initial public offerings. Yesterday I asked Brex co-CEO Henrique Dubugras when he thought the IPO window would open. His fintech company, after all, is one of many that could be beating down that door. Having raised $1.5 billion in funding, Dubugras said the company has a plan to break even off its existing funding. When I ask the IPO question, I usually...
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