Baidu Secures Regulatory Nod for Autonomous Ride-Hailing in Shenzhen, Threatens Competition in Chinese EV Market
Portfolio Pulse from Anusuya Lahiri
Baidu has received regulatory approval to offer driverless ride-hailing services in Shenzhen under its Apollo Go brand. This comes after Chinese EV maker XPeng launched its assisted-driving technology in Beijing and three other cities.
June 16, 2023 | 12:43 pm
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Baidu's Apollo Go robotaxis received regulatory approval to operate in Shenzhen, marking the fourth city where the company's driverless cars operate.
Baidu's regulatory approval to operate its Apollo Go robotaxis in Shenzhen is a significant milestone for the company. This expansion into a new city increases Baidu's presence in the Chinese EV market and could lead to increased demand for its services, potentially driving its stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
XPeng recently launched its assisted-driving technology in Beijing and three other cities, becoming the first company to launch an advanced driver-assistance system (ADAS) in Beijing.
XPeng's launch of its assisted-driving technology in Beijing and three other cities is a positive development for the company. As the first company to launch an advanced driver-assistance system in Beijing, XPeng is positioning itself as a leader in the Chinese EV market. This could lead to increased demand for its products and services, potentially driving its stock price up in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
XPeng's City NGP system, similar to Tesla's FSD feature, is now available in Shanghai, Shenzhen, and Guangzhou, increasing competition in the Chinese EV market.
The launch of XPeng's City NGP system, which is similar to Tesla's FSD feature, in three cities increases competition in the Chinese EV market. This could potentially impact Tesla's market share and demand for its products in the region, leading to a negative short-term impact on its stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60