Baidu Inc., the Chinese tech giant, is reportedly considering expanding its robotaxi unit, Apollo Go, into international markets. This move comes as the company’s CFO, Rong Luo, transitions to a new role within the company.
According to CNBC, citing a source familiar with the matter, Baidu’s Apollo Go is in discussions with several companies to potentially bring its robotaxi services to global markets. While specifics like timing and regions remain undisclosed, this expansion signals Baidu’s ambition to become a major player in the global autonomous vehicle landscape.
Baidu is already a prominent force in China’s robotaxi market. Regulators in certain regions have allowed commercial operations of self-driving taxis, a significant shift from previous regulations that only permitted internal testing. This move comes as Tesla Inc. prepares for its own highly anticipated robotaxi event scheduled for Thursday.
Meanwhile, WeRide, another Chinese robotaxi developer, recently announced a partnership with Uber to integrate its cars onto the ride-hailing giant’s platform in Abu Dhabi. This partnership highlights the growing global interest in autonomous ride-hailing solutions.
Baidu’s move to expand internationally comes at a time when the company’s stock is facing challenges. During Tuesday’s trading session, Baidu’s shares dropped by 6.7% to $106.75, reportedly due to Chinese planning officials falling short of investor stimulus expectations.
However, Baidu’s robotaxi unit has been making significant strides in its domestic market. In August, Goldman Sachs analyst Lincoln Kong noted that Baidu’s robotaxi unit was getting closer to scalable adoption, with unit economics breakeven in sight. Despite Baidu’s progress, Tesla is still expected to dominate the robotaxi market, according to Ark Invest analyst Tasha Kenney.
Back in March, Baidu made headlines for launching China’s first 24/7 robotaxi service, a significant milestone for the company’s autonomous ride-hailing service platform Apollo Go. This move solidified Baidu’s position as a leader in the rapidly evolving field of autonomous driving.
