Baidu Apollo Selected to Build Landmark 5G Intelligent Driving Project in Chengdu

Rhea-AI Summary

Baidu, Inc. (NASDAQ:BIDU) announced a significant milestone as Baidu Apollo won a bid for a 5G intelligent driving project in Chengdu, valued at RMB 105 million ($16.1 million). This project marks Sichuan Province's first initiative of its kind, involving the development of 30 kilometers of smart roads in the Singapore-Sichuan Hi-Tech Innovation Park. The initiative aims to enhance transportation through AI technology and will pave the way for autonomous driving services in Chengdu, including robobuses and robotaxis.

Positive

• Awarded RMB 105 million ($16.1 million) for a 5G intelligent driving project.
• Development of 30 kilometers of intelligent connected roads enhances Baidu's smart transportation portfolio.
• Plans to launch autonomous driving services in Chengdu, including robobuses and robotaxis.

Negative

• None.

BEIJING, March 10, 2021 /PRNewswire/ -- Baidu, Inc. (NASDAQ:BIDU), a leading AI company with strong Internet foundation, today announced that Baidu Apollo jointly won a bid to construct a 5G intelligent driving project in Chengdu in a tender worth RMB 105 million ($16.1 million). The first project of its kind on Sichuan Province, the win adds to Baidu Apollo's growing portfolio of smart transportation projects across China, which are leveraging the company's strengths in AI-powered new infrastructure to bring about an intelligent transformation of transportation and urban management.

As part of the project, Baidu Apollo will develop 30 kilometers of intelligent connected demonstration roads in the Singapore-Sichuan Hi-Tech Innovation Park. Baidu also aims to construct a 5G-based intelligent connected vehicle demonstration zone that will support research and development testing as well as future commercial applications. Once the project is completed, Baidu aims to launch autonomous driving services to Chengdu residents, including robobuses and robotaxis, and create a variety of smart transportation applications as part of an intelligent driving industrial ecosystem.

Since Baidu and the Chengdu Hi-tech Industrial Development Zone reached a strategic cooperation in June 24, the two parties have been actively promoting the construction of Sichuan Province's first benchmark project for intelligent driving. This new project to develop a 5G intelligent driving zone represents a major leap for the development of smart transportation and the intelligent connected industrial ecosystem in Sichuan.

An economic engine in western China—and the home of the pandas—Chengdu has vigorously supported the AI industry, opening a national pilot zone for AI innovation in February of this year. The Chengdu Hi-Tech Zone has also been committed to fostering the growth of the 5G and AI industries within the Singapore-Sichuan Hi-Tech Innovation Park, focusing on key areas such as smart transportation, the industrial Internet, and intelligent healthcare. Through investing in the construction of Vehicle-to-Everything (V2X) intelligent infrastructure, a Cellular Vehicle-to-Everything (C-V2X) network, the development of V2X software and hardware applications, and the implementation of intelligent vehicle applications, the Chengdu Hi-Tech Zone aims to be a global highland and benchmark for the smart transportation industry.

A leader in smart transportation, Baidu Apollo's ACE Transportation Engine—a full-stack solution that stands for "Autonomous Driving, Connected Road, Efficient Mobility"—has been put in use in nearly twenty cities. In the future, Baidu Apollo will give full play to its core advantages in areas such as autonomous driving and V2X technology to accelerate the construction of an intelligent driving demonstration zone in Chengdu Hi-tech Zone, which aims to be a world-class benchmark project for smart transportation and intelligent connected industrial ecosystems.

About Baidu

Founded in 2000, Baidu's mission is to make the complicated world simpler through technology. Baidu is a leading AI company with strong Internet foundation. Baidu's ADSs trade on the NASDAQ Global Select Market under the symbol "BIDU". Currently, each ADS represents eight Class A ordinary shares.

 

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SOURCE Baidu, Inc.

FAQ

What is the significance of the 5G intelligent driving project in Chengdu for Baidu (BIDU)?

The project, worth RMB 105 million ($16.1 million), marks a significant expansion of Baidu Apollo's smart transportation initiatives and aims to develop autonomous driving services in Chengdu.

When was the bid for the 5G intelligent driving project awarded to Baidu (BIDU)?

The bid was announced on March 10, 2021.

How much is the 5G intelligent driving project in Chengdu worth?

The project is valued at RMB 105 million ($16.1 million).

What technologies will be developed as part of Baidu's intelligent driving project in Chengdu?

The project will focus on developing a 5G-based intelligent connected vehicle demonstration zone and smart roads to support autonomous driving technologies.