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Electric Vehicles Asia

Chinese Search Giant Baidu’s Electric Car Unit Raises $400 Million

By Juro Osawa
· · Source: The Information

Jidu, the electric vehicle unit of Chinese search provider Baidu, just got more money. Jidu said in a statement that it has raised $400 million from its parent Baidu and Chinese automaker Geely, a strategic partner that will manufacture Jidu’s cars. The investment comes as Baidu, whose once-dominant position in China’s internet and digital advertising industries has declined over the past...

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