Geely and Jidu automobile responded to the change of shares of Jidu automobile< Br>
on June 30, regarding the industrial and commercial change of Jidu Automobile Co., Ltd., Geely and Jidu automobile both told the news, “this is a normal adjustment made by the company based on the needs of business development. Jidu is still jointly held by Baidu and Geely. The shares held by both sides remain unchanged. The CEO of Jidu is xiayiping.”< Br>
according to the national enterprise credit information publicity system, on June 28, Jidu Automobile Co., Ltd. underwent an industrial and commercial change, Zhejiang Geely Holding Group affiliated company Shanghai Huapu Automobile Co., Ltd. withdrew, and Baidu affiliated company Dazi County bairuixiang Venture Capital Management Co., Ltd. increased its shareholding to 100%. In addition, the legal representative was also changed from xiayiping to liangzhixiang< Br>
in March, 2021, Baidu and Geely established a joint venture company, Jidu automobile, in which Baidu and Geely held 55% and 45% shares respectively. On January 26, 2022, Jidu automobile announced that it had completed nearly $400million of round a financing, which was jointly increased by Baidu and Geely. Jidu inherits the existing capabilities of Geely on the entire vast platform, including the three electric and chassis, and designs and defines the entire vehicle and product by itself. At the same time, unitax also carries the automatic driving technology verified by Baidu Apollo robotaxi. Xia Yiping once said that Jidu automobile is a relatively independent company, and the cooperation with Baidu and Geely belongs to the cooperation on business model.