Shulou(Shulou.com)11/24 Report--

CTOnews.com, August 15, August 14, the "Automotive Robot Strategic Cooperation Project" jointly built by Geely Holdings Group and Baidu Group has made important progress, and Geely Holdings Group's new automotive robot brand "Ji Yue" has been officially launched. the official release of the "Jiyue" brand marks a substantial step towards the mass production of high-end smart cars.

In addition, the first model of the "Ji Yue" brand is officially named "Ji Yue 01" and is expected to be released in the second half of this year. CTOnews.com noted that the car has appeared in the latest "Road Motor vehicle Manufacturing Enterprises and products Bulletin" (batch 374) issued by the Ministry of Industry and Information Technology on August 14, which means that it has obtained the production qualification.

Judging from the official picture of the "Ji Yue 01" model, the car is the previous set ROBO-01. According to the Economic Observer Network, a Jiyue car person said that they are no longer called Jidu, but Jiyue. The original Jidu Automobile official website has also changed its name to Ji Yue Automobile Robot.

According to reports, the renamed Ji Yue Automobile will be produced and manufactured by Geely Group, and Baidu Group will provide services for Ji Yue in terms of AI technical capabilities such as intelligent cockpit, intelligent driving and Wen Xin Yi Yan.

According to the information, Jiyue Automotive Technology was established on August 9, with Zhang Quan (Senior Vice President of Geely Holdings Group) as its legal representative and Xia Yiping (CEO) as its general manager with a registered capital of 10 million. The company is 65% owned by Zhejiang Geely Industry Investment holding Co., Ltd., and Shanghai Power Airlines Automobile Co., Ltd., owned by Baidu, and 35% respectively.

When Jidu Automobile was founded in March 2021, it was jointly funded by Baidu and Geely, with Baidu holding 55% and Geely 45%. When it was founded, it received US $300 million in start-up capital. In 2022, Jidu Automobile completed nearly US $400 million in round A financing, which was jointly increased by Baidu and Geely.

Compared with the previous share proportion of Jidu Automobile, Jiyue Automobile's Baidu share decreased, while Geely's share increased.

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