Uber Strikes Partnership With Baidu
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Uber just announced a deal today with the company that runs one of the largest robotaxi fleets in China, as the ridehail giant nears its goal of becoming the world’s ultimate autonomous vehicle clearinghouse.
Rideshare OG Uber has announced a plan to roll out “thousands” of robo-taxis from Chinese tech giant Baidu. The two companies on Tuesday announced “a multi-year strategic partnership” to introduce the robo-cars outside the USA and China, starting later this year in unspecified countries across “Asia and the Middle East”.
Shares of Baidu ( BIDU 9.13%) charged sharply higher on Tuesday, surging as much as 9%. As of 12:46 p.m. ET, the stock was still up 8.5%. The catalyst that sent the Chinese tech giant higher was a high-profile partnership for its self-driving car platform.