Baidu Inc (ADR)(NASDAQ:BIDU) is one of the many entities that have put their attempts in expediting the development of the celebrated autonomous technology. The Chinese search giant is on the verge of launching its open-source self-driving platform through Project Apollo. The platform will initiate a collaboration program between Baidu and other automobile giants and industry leaders.
The inclusion of several automotive partners into its self-driving program will expose Baidu to the competitive market. The search giant will come head to head with the likes of Ford Motor Company (NYSE:F) and Tesla Inc (NASDAQ:TSLA) among other self-driving players.
The expansion of autonomous driving systems
Baidu entry into the autonomous vehicle technology could sound like a threat to the likes of Alphabet Inc (NASDAQ:GOOGL) Google and Lyft. The two are already making an enormous contribution to the industry and carefully guarding the technology. However, Baidu seems to be more interested in fast-tracking the technology’s progress, hence the reason for the collaborative approach.
The company’s goal is to have the technology on urban roads by the close of the year and on other highways by 2020. COO at Baidu, Qi Lu states, “China is the world’s largest market for automotive sales and production. It has many car brands and an open environment that is ripe for collaboration.”
Baidu and artificial intelligence technology
Baidu has big ambitions. Having partnered with the Chinese vehicle makers, it is making progress in the area of autonomous mobility. However, it is also focusing its eye on artificial intelligence technology. Lu says that AI has the potential of driving social development, thus creating opportunities for intelligent vehicles.
Apparently, the company already has an Autonomous Vehicle Testing Permit for California, which it obtained after successful road tests for its fully autonomous cars in Beijing and Wuzhen.
The company has also put a self-driving team in Silicon Valley, which will primarily carry out research, development, and testing of autonomous vehicles. In the meantime, all eyes are now on the launch of Project Apollo slated for July this year. Meanwhile, Baidu’s stock closed at $174.47 witnessing an increase of $1.16 or 0.67%.
