{"id":30428,"date":"2022-08-30T10:56:51","date_gmt":"2022-08-30T14:56:51","guid":{"rendered":"https:\/\/autosector.com\/?p=30428"},"modified":"2022-08-30T10:56:51","modified_gmt":"2022-08-30T14:56:51","slug":"baidus-apollo-go-service-strikes-1-million-ev-autonomous-rides","status":"publish","type":"post","link":"http:\/\/autosector.com\/?p=30428","title":{"rendered":"Baidu\u2019s (BIDU) Apollo Go service strikes 1 million EV autonomous ride milestone in China"},"content":{"rendered":"

Chinese tech giant Baidu<\/a> (BIDU) beat Wall Street\u2019s Q2 earnings estimates on Tuesday despite several headwinds in China\u2019s economy. Baidu\u2019s Apollo Go, its robotaxi business, unveiled its next-gen autonomous EV, the Apollo RT6, as the service surpasses 1 million rides. <\/p>\n

Like Google in the US, Baidu dominates the search market in China with a market share of three-fourths (75.5%<\/a>). <\/p>\n

Although Baidu\u2019s cloud business stole the show in the second quarter, growing 31% YOY, the company is doubling down on its autonomous driving program.<\/p>\n

Baidu partnered with Chinese automaker Geely<\/a> in 2021 to collaborate on an intelligent EV company. With Geely\u2019s automotive expertise and Baidu\u2019s advanced software, JIDU<\/a>, the self-driving EV startup, was born in March 2021.<\/p>\n

Since its foundation, JIDU has unveiled several EV concepts, starting with the ROBO-01<\/a>. State-of-the-art Nvidia<\/a> Drive Orin computer chips power JIDU\u2019s ROBO-01 (also powering EV smart cars from automakers like Nio and Li Auto).<\/p>\n

Earlier this summer in June, Baidu revealed its plans for the future with its 6th-generation AV<\/a>, the Apollo RT6. The tech giant is partnered with several major automakers to advance the project, including Ford, Toyota, and Geely. <\/p>\n

JIDU has ambitious plans to deliver 800,000 self-driving EVs each year by 2028. That being said, Baidu\u2019s Q2 earnings<\/a> show the tech giant is pushing ahead to achieve its target as Apollo Go takes off.<\/p>\n

\"Baidu-Apollo-Go-RT6\"
Apollo RT6. Source: Baidu<\/figcaption><\/figure>\n

Baidu\u2019s Q2 2022 earnings highlights: Apollo Go takes flight<\/h2>\n

Although several Chinese companies have fallen victim to halting growth caused by lockdowns and a tech crackdown last year, Baidu, for the most part, has overcome these challenges. <\/p>\n

Baidu\u2019s total revenue did fall by 5% from 2021 to 29.6 billion yuan ($4.43 billion), its first slowdown in two years. However, analysts predicted a slowdown, and Baidu delivered better-than-expected results. <\/p>\n

The company cut costs by 5% to conserve but maintained R&D expenses to accelerate its EV self-driving business, Apollo Go. Meanwhile, the program hit several milestones this year, including: <\/p>\n

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  • 287,000 rides were provided in Q2, surpassing 1 million rides total on July 20, 2022.<\/li>\n
  • On August 8, Apollo Go began fully driverless rides, making it the first to do so in China.<\/li>\n
  • The self-driving service also started charging fees after receiving a permit on July 20.<\/li>\n<\/ul>\n

    Apollo Go is now available in over 10 cities, including all major Chinese cities (Beijing,\u00a0Shanghai,\u00a0Guangzhou,\u00a0Shenzhen). <\/p>\n

    So far, the program is progressing rapidly, and Baidu seems to have the first mover advantage in China. With strong partnerships and industry ties, it will be exciting to watch the self-driving company grow, especially as the all-electric Apollo RT6 begins rolling out. <\/p>\n

    Baidu\u2019s Q2 earnings indicate the company is not slowing down, and as China\u2019s economy reopens, Apollo Go will likely continue seeing strong demand.<\/p>\n

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