Recent media reports have suggested that Chinese search giant Baidu is considering producing its own electric car. The latest news suggests that Baidu may be partnering with WM Motor to build a car.
Tencent News on Friday cited sources familiar with the matter as saying that Baidu may join forces with WM Motor to build a car and that the two sides are currently discussing possible models of cooperation.
When contacted by cnEVpost, Baidu said it had "no comment".
The report cited industry sources as saying that Baidu already has a foundation of cooperation with large car companies, and that it is not impossible to build its own cars.
But from another point of view, building a car means investing a lot of hardware costs, plus Nio, Xpeng and other new car makers have faced delivery problems, so whether Baidu has this plan is still unknown, the report said, adding that from the current point of view, it is more likely to advance the layout of the car field through technical cooperation.
Since this year, the market value of new Chinese car-making forces represented by Nio, Xpeng, and Li Auto has soared.
Recent media reports suggest that Baidu is considering producing its own electric cars and has been in talks with Geely Automobile, Guangzhou Automobile Group and FAW Group about the possibility.
The reports mention that Baidu could form a majority-owned joint venture, but no agreement has been reached. Baidu would not comment on this.
Baidu jumped nearly 14 percent on Dec. 15, the day the initial reports were published. The company is up more than 30 percent in the past month.
