Baidu Gets a Boost on Suggestions Its Robotaxi Business Is Taking Off

American Depositary Receipts (ADRs) of Baidu (BIDU) precocious successful intraday trading Wedesday connected reports nan Chinese net hunt engine’s Apollo Go robotaxi business is group to return disconnected successful that country.

Both Dow Jones Newswires and Bloomberg cited a statement by Guotai Junan International expert Li Muhua that indicated Apollo Go is expected to break moreover successful Wuhan this year. The statement added that autonomous driving will beryllium a cardinal waste and acquisition complete nan adjacent 3 months, boosted by nan motorboat of Tesla’s (TSLA) robotaxi successful August. 

Apollo Go Operating Costs Expected To Fall Significantly

Bloomberg said Li pointed retired that Apollo Go has begun parented tests successful 11 Chinese cities, and is moving unmanned driving tests successful Wuhan, Beijing, Chongqing, Shenzhen, and Shanghai. The expert added that operating costs will autumn significantly.

Dow Jones Newswires noted that section media sites person released drafts of rules for autonomous vehicles put together by a Beijing regulatory agency, further adding to nan enthusiasm.

Baidu ADRs were up 2.7% to $97.96 arsenic of 11:34 a.m. ET Wednesday but are down much than 17% this year. Tesla shares, which person been connected a 10-day winning streak, were small changed.