With the recent turn of events in various countries, moving to electric vehicles is inevitable. And this fact explains the many electric car firms and their recent upgrade in their management team. When it comes to Baidu, a Chinese search engine giant, things are not separate. In their recent report, the company hired Mobike co-founder Xia Yiping as the new chief executive officer. Yiping formed worked in Mobike as the Chief technology officer. He will be in charge of the new electric vehicle that the company is working on alongside Geely.
In January 2021, Baidu spoke about the company’s latest venture with Geely to build electric vehicles. This project is a back-up for their plan to monetize the company’s self-driving technologies. Baidu is currently working on the non-search businesses that include autonomous driving and cloud services from the recent reports. This venture is the business’ way of diversifying their source of income since the company has been working on advertising sales. Besides, the advertising venture is showing signs of stagnancy.
To justify their choice of giving Xia Yiping the position, the spokesperson spoke about Yiping’s knowledge of management. His experience in the small vehicles industry and mobility services will come in handy for the new venture. The spokesperson expressed the company’s excitement to work with the legend in the business world in the statement.
Before co-founding Mobike, Yiping formerly worked in Chrysler, ZTE, and Ford. He founded Mobike in 2015. However, three years later, Mobike was acquired by Meituan. The latter is one of the most significant Chinese Lifestyle service and food delivery companies. Last week in Baidu’s fourth-quarter earnings, its CEO Robin Li took the opportunity to announce the company’s plan to invest in its first electric vehicle. The project has a timeline of three years.
As the world works hard to achieve the green energy project, many companies combine to deliver high-quality products. And this fact explains why Baidu and Geely are tying up. In China, this partnership is not the first between a conventional carmaker and a tech firm. The main goal that the two companies have is to co-develop electric vehicles in China and compete effectively with other companies in the auto motors business.
In 2020, there was a giant partnership between SoftBank and Didi Chuxing. The Chinese ride-hailing company, in conjunction with SoftBank, was able to launch the D1 Electric vehicles. From the details above, the electric vehicles’ popularity is multiplying in different countries. And many companies are working together to deliver the top products in the market. With Xia Yiping’s new role in Baidu, the company is bound to succeed since this business legend is famous for a fantastic job. What the future holds for this electric vehicle business is something we will understand with time.