Baidu speeds up auto-driving race with Shouqi bid

China's largest online search engine operator invests in car-hailing app Shouqi as it steps up the country's efforts to develop driverless cars.

Baidu speeds up auto-driving race with Shouqi bid

Beijing-based car-hailing platform Shouqi Limousine Chauffeur raised Rmb1.3 billion $196 million from a series-B round of funding, securing new capital to develop self-driving technology in partnership with some of China’s leading technology companies.

Shouqi’s driverless car ambition is underscored by the powerful new investors it drew in the latest funding round, including Baidu and Nio Capital, the private equity firm behind electric car startup Nio.

Baidu, China’s largest search engine operator,...

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