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Baidu, Continental AG sign self-driving vehicle agreement

Published 05/31/2017, 09:05 AM
© Reuters.  Baidu, Continental AG sign self-driving vehicle agreement
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  • Continental AG (DE:CONG) (OTC:CTTAF, OTCPK:CTTAY) and Chinese Internet giant Baidu (NASDAQ:BIDU) will collaborate on tech developments, product design, and business modeling for self-driving and connected vehicles. No financial details provided.
  • Last month, Baidu opened up some of its self-driving vehicle technology for potential developers. The tech includes hardware and software platforms as well as cloud data services with Baidu planning to release all of the tech by 2020.
  • Baidu has previously signed agreements with Chinese automakers BAIC Motor, BYD, and Chery and recently ended a partnership with BMW.
  • Continental and Baidu’s self-driving vehicle project will compete with Alphabet’s spun-off Waymo project and Tesla (NASDAQ:TSLA).
  • Baidu shares are up 0.47% premarket.
  • Now read: Baidu - Back To Growth, With Powerful Allies


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