Baidu strikes at Elon Musk’s Tesla

Baidu Inc. (NASDAQ:BIDU) introduced an autonomous vehicle (AV) with a detachable steering wheel that can be removed or installed as needed.

What happened

The Chinese search engine plans to launch its Apollo RT6 all-electric car domestically next year as part of its robot taxi service.

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The Apollo RT6 will be offered at a much lower price of $37,000 per unit compared to $71,020 for the previous generation, the company said in a statement.

“This significant cost reduction will allow us to deploy tens of thousands of drones across China,” he said. Robin Leegeneral manager of Baidu.

“We are moving towards a future where robot taxis are half the price they are today.”

The unmanned vehicle of the tech colossus will have level 4 capabilities that require no human intervention. It will carry 38 sensors, including 8 lidars and 12 cameras, to provide very accurate and long-range detection from all directions.

Why is it important

Baidu can make life difficult Tesla Inc. (NASDAQ:TSLA)Elon Musk. The latter intends to start mass production of its robotic taxi without a steering wheel and pedals in 2024, which was announced at an investor conference in April.

Price movement

Baidu’s Hong Kong-listed shares ended Thursday’s session down 1.49%, while the firm’s ADRs rose 0.18% to $140.82 before the US open, according to data from Benzinga Pro.

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