On August 10th, it was announced that Hangzhou Ji Yu Yue Automotive Technology Co., Ltd. was officially established yesterday with a registered capital of 10 million yuan. The company is jointly held by Zhejiang Geely Industry Investment Holding Co., Ltd. and Baidu‘s Shanghai Mihang Automotive Co., Ltd. with a shareholding ratio of 65% and 35% respectively.
At present, neither Geely nor Baidu has disclosed the development direction of Ji Yu Yue Automobile. From the perspective of business scope, the company involves the sales of new energy vehicles, automotive sales, retail of automotive parts, operation of electric vehicle charging infrastructure, battery sales, second-hand car brokerage, digital technology services, etc.
According to previous reports, Jidu Automobile Co., Ltd. underwent an industrial and commercial change in December last year, and the company was renamed Shanghai Mihang Automobile Co., Ltd. Regarding this, the official Weibo account of Jidu has stated that the Shanghai entity of Jidu is “Shanghai Jidu Automobile Co., Ltd.”, rather than “Shanghai Mihang Automobile Co., Ltd.”. Jidu is still jointly owned by Baidu and Geely, and its CEO is Xia Yiping.
Last October, the first model of Jidu, the ROBO-01 Lunar Exploration Limited Edition, was officially unveiled at a price of 399,800 yuan. The new car is expected to start delivery this year. This model is positioned as a mid to large SUV, based on Baidu Apollo‘s autonomous driving capabilities, and adopts a visual + dual LiDAR autonomous driving solution. It is still produced by Geely Automobile.