Baidu established a new energy automobile company with a registered capital of 2 billion yuan.

According to APP, Jidu Technology Co., Ltd. was established on June 7, with Xia Yiping as its legal representative, with a registered capital of 2 billion yuan. Its business scope includes technical services, technical development and technical consultation for new energy vehicles and related parts, as well as sales of new energy vehicles and production and testing equipment for new energy vehicles.

Equity penetration shows that the company is wholly owned by Dazi County Bairuixiang Venture Capital Management Co., Ltd., which is a wholly-owned subsidiary of Beijing Baidu Netcom Technology Co., Ltd. It is reported that Jidu is the automobile brand of Baidu and Geely.

What is noteworthy is that on March 2, Baidu and strategic partner Geely jointly established Jidu Automobile Co., Ltd., with a registered capital of 2 billion yuan, and the legal representative is Xia Yiping. The scope of business includes technical services, technical development and technical consulting of new energy vehicles and related parts.

Battery Network noted that the two companies, Jidu Technology and Jidu Automobile, have different registered addresses, the former in Beijing and the latter in Shanghai.

According to the news from Baidu and Geely in January, the two sides will work closely together in smart car manufacturing related fields based on Geely's latest leading pure electric architecture, the vast SEA Intelligent Evolutionary experience Architecture, to build the next generation of smart cars.