Baidu Announces Approach to Set up an Clever EV Organization and Varieties Strategic Partnership with Geely

BEIJING, Jan. 10, 2021 /PRNewswire/ — Baidu, Inc. (NASDAQ: BIDU) (“Baidu” or the “Business”), a primary Online system and AI corporation, currently introduced its strategy to set up a business to make clever electric powered automobiles (EV), and that it has entered into a strategic partnership with multinational car company Zhejiang Geely Keeping Team (“Geely”). Baidu will present intelligent driving abilities to electric power the passenger motor vehicles for the new venture, and Geely, which retains the distinction of greatest-offering Chinese auto brand name in past decades beneath the Volvo and Geely brand names, will contribute its experience in automobile style and design and producing.

“At Baidu, we have long considered in the long run of intelligent driving and have over the past 10 years invested closely in AI to make a portfolio of world-class self-driving solutions. China has become the world’s premier marketplace for EVs, and we are looking at EV consumers demanding following technology motor vehicles to be much more clever.” explained Robin Li, Co-founder and CEO of Baidu. “As a leading Chinese automaker with world-wide achieve, Geely has the one of a kind knowledge and assets to design, make and marketplace energy-economical, dependable and risk-free automobiles in substantial scale. We feel that by combining Baidu’s expertise in good transportation, connected cars and autonomous driving with Geely’s skills as a top car and EV company, the new partnership will pave the way for future passenger autos.”

About Baidu

Baidu, Inc. is a primary search motor, information and information centered World wide web platform and AI business. The Company’s mission is to make the challenging entire world easier as a result of technological know-how. Baidu’s ADSs trade on the NASDAQ World wide Select Market underneath the symbol “BIDU”. Presently, ten ADSs signify one Class A everyday share.

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This announcement includes ahead-hunting statements. These statements are built under the “harmless harbor” provisions of the U.S. Personal Securities Litigation Reform Act of 1995. These forward-hunting statements can be identified by terminology these as “will,” “expects,” “anticipates,” “long term,” “intends,” “plans,” “thinks,” “estimates,” “self-assured” and very similar statements. Amid other points, quotations from management in this announcement, as well as Baidu’s and other parties’ strategic and operational programs, consist of forward-on the lookout statements. Baidu may also make created or oral ahead-searching statements in its periodic studies to the U.S. Securities and Exchange Commission, in its yearly report to shareholders, in press releases and other written resources and in oral statements built by its officers, administrators or staff to 3rd get-togethers. Statements that are not historical info, such as but not constrained to statements about Baidu’s beliefs and expectations, are forward-searching statements. Forward-hunting statements require inherent risks and uncertainties. A range of things could induce precise outcomes to differ materially from those people contained in any ahead-looking statement, like but not confined to the following: Baidu’s progress tactics its long run business development, such as development of new goods and products and services its means to draw in and keep people and buyers level of competition in the Chinese Web research and newsfeed sector competition for on the web advertising clients improvements in the Company’s revenues and specific expense or cost objects as a proportion of its revenues the end result of ongoing, or any long run, litigation or arbitration, together with all those relating to mental house rights the expected development of the Chinese-language Net research and newsfeed market place and the number of Online and broadband people in China Chinese governmental insurance policies relating to the World-wide-web and World wide web look for suppliers, and standard economic problems in China and in other places. Even further information and facts about these and other pitfalls is incorporated in the Company’s yearly report on Sort 20-F and other paperwork filed with the Securities and Exchange Commission. Baidu does not undertake any obligation to update any ahead-looking assertion, apart from as expected less than relevant regulation. All facts supplied in this press release and in the attachments is as of the date of the push release, and Baidu undertakes no responsibility to update these types of details, besides as required underneath applicable legislation.

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