Chinese artificial intelligence firm Baidu Inc. has teamed up with state-owned carmaker BAIC Group to manufacture 1,000 driverless cars in the next three years, CNBC reported.

  • Dubbed as the Apollo Moon, the driverless cars can be made at 480,000 yuan or $74,729 each. The plan is to eventually roll out the vehicles as a ‘robotaxi’ service in China.
  • The cars will be made under the ARCFOX electric vehicle brand of BAIC, while software and autonomous driving systems will come from Baidu.
  • The vehicles will have an operating cycle of over five years, offering additional revenues if commercialized successfully. No timetable was given.

The Apollo Moon will compete with vehicles made by Chinese startups WeRide and which are also developing their own robotaxis. 9888 is down 0.44%, while 1958 is up 1.71%.