Baidu’s robotaxi unit plans to expand service to Europe – CNBC
Investing.com-- Baidu (NASDAQ: BIDU ) ’s (HK: 9888 ) Apollo Go robotaxi business is preparing to expand into Europe this year, with plans to establish a presence in Switzerland and Turkey, CNBC reported on Wednesday, citing a source familiar with the matter.
The Chinese tech firm intends to set up an entity in Switzerland in the coming months, marking the company’s first move into the European market, the report said.
Apollo Go currently operates fully driverless taxis in parts of China, including suburban Beijing, with fares generally subsidized. The planned expansion follows the company’s March announcement of its entry into Dubai and Abu Dhabi, and recent testing activity in Hong Kong.
Baidu’s move comes as rival Pony.ai partners with Uber (NYSE: UBER ) to bring its autonomous vehicles to the U.S. platform, with ambitions to expand to the Middle East later this year, according to the report.
Hong Kong-listed Baidu shares were trading 1.3% lower as of 1:54 GMT amid a broader downturn.