China’s Baidu teams up with state-owned Shouqi on driverless cars

REUTERS/Kim Kyung-Hoon

Chinese search engine giant Baidu and Shouqi Limousine & Chauffeur, a car-hailing operator, are joining up to develop driverless vehicles, the official Xinhua media service reported on Saturday.

Baidu will provide Shouqi with its Baidu Map service, while Shouqi will help Baidu develop high-precision maps for self-driving cars.

Baidu will also offer software and hardware to help the new vehicles navigate using artificial intelligence technology.

The Chinese internet company is trying to reshape its business around AI and autonomous driving, a strategy that has raised concerns among some investors.

Shouqi Limousine & Chauffeur, a subsidiary of the state-owned Shouqi group, operates in more than 50 cities in China.

Baidu recently signed an agreement with BAIC Group to mass produce level 4 autonomous vehicles by 2021. It is targeting mass production of autonomous buses with King Long by 2018.

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Reuters

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.