Baidu's Apollo Go Secures Dubai's First Autonomous Driving Permits, Boosting Stock
2 Sources
2 Sources
[1]
Baidu stock jumps after Apollo Go secures Dubai autonomous driving permits By Investing.com
Investing.com -- Baidu Inc (NASDAQ:BIDU) stock surged 6.3% on Wednesday after the company announced its autonomous ride-hailing platform, Apollo Go, received Dubai's first autonomous driving trial permit along with 50 test licenses. The permits, granted by Dubai's Roads and Transport Authority (RTA) in July, allow Apollo Go to deploy a 50-vehicle fleet in designated areas of urban Dubai. The company has already begun trials on open roads since August, making it the only platform currently permitted to conduct self-driving trials in the city. This development follows a Memorandum of Understanding signed between Apollo Go and the RTA earlier this year. Looking ahead, the companies plan to expand the autonomous fleet to more than 1,000 fully driverless vehicles by 2028, supporting Dubai's vision for autonomous mobility adoption. The Dubai permit represents a significant expansion milestone for Apollo Go, which was also granted Hong Kong's first autonomous driving test license in November 2024, marking its entry into right-hand-drive markets. Apollo Go brings considerable experience to Dubai, having logged 200 million kilometers of safe driving and provided 14 million autonomous rides to the public in China, where it operates fully driverless urban services. The announcement was made at the 4th Dubai World Congress for Self-Driving Transport, where Apollo Go is showcasing its sixth-generation autonomous vehicles (RT6) for exclusive trial rides. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
[2]
Baidu Shares Rise on Robotaxi Progress in Dubai
Chinese tech company Baidu's shares were boosted by news its robotaxi business was granted 50 autonomous-driving test licenses in Dubai. It's Hong Kong-listed shares gained 5.5% in early trade Thursday, outperforming the Hang Seng Tech Index's 1.5% rise. Baidu's ADRs closed 5.8% higher in the U.S. overnight, bringing their year-to-date gains above 57%. Investors were cheered after Baidu said late Wednesday that its robotaxi unit Apollo Go received Dubai's first autonomous driving trial permit, as well as 50 test licenses. Apollo Go's 50-strong fleet of robotaxis has been conducting open-road trials in designated areas since August, the company said in a statement. "Leveraging our autonomous driving technologies and fleet operation expertise, we will conduct all required testing and operations to enable seamless localization," said Liang Zhang, managing director of EMEA at Baidu Apollo. Baidu aims to expand its fleet size to more than 1,000 fully driverless vehicles by 2028. Chinese robotaxi firms have been expanding overseas in recent months as they look for new markets to grow their fleets. Pony AI, WeRide and Baidu's Apollo Go--considered the Big Three of China's robotaxi sector--all have a footprint in the Middle East because of how open the region is to to autonomous driving. Nasdaq-listed WeRide partnered with ride-hailing giant Uber for its Saudi Arabia and Abu Dhabi services while Pony AI, which also trades on the U.S. index, is launching driverless taxi services in Dubai. Dubai aims to have 25% of all transportation trips in the city be "smart" and driverless by 2030.
Share
Share
Copy Link
Baidu's autonomous ride-hailing platform, Apollo Go, has been granted Dubai's first autonomous driving trial permit and 50 test licenses. This development has led to a significant surge in Baidu's stock price and marks a major milestone in the company's global expansion.
Baidu's Apollo Go Achieves Milestone in Dubai
Baidu Inc, the Chinese tech giant, has made significant strides in the autonomous driving sector with its ride-hailing platform, Apollo Go. The company recently announced that Apollo Go has secured Dubai's first autonomous driving trial permit, along with 50 test licenses, granted by Dubai's Roads and Transport Authority (RTA) in July
1
. This development has led to a substantial boost in Baidu's stock price, with shares surging 6.3% following the announcement1
.Operational Details and Future Plans
Apollo Go has already begun trials on open roads in designated areas of urban Dubai since August, making it the only platform currently permitted to conduct self-driving trials in the city
1
. The company has deployed a fleet of 50 vehicles for these trials, showcasing its sixth-generation autonomous vehicles (RT6) at the 4th Dubai World Congress for Self-Driving Transport1
.Looking ahead, Baidu has ambitious plans for expansion in Dubai. The company aims to increase its autonomous fleet to more than 1,000 fully driverless vehicles by 2028
2
. This aligns with Dubai's vision of having 25% of all transportation trips in the city be "smart" and driverless by 20302
.Global Expansion and Market Position
The Dubai permit represents a significant milestone in Apollo Go's global expansion strategy. This follows the company's entry into the Hong Kong market in November 2024, where it was granted the first autonomous driving test license, marking its foray into right-hand-drive markets
1
.Apollo Go brings substantial experience to Dubai, having logged 200 million kilometers of safe driving and provided 14 million autonomous rides to the public in China
1
. The company's success in China, where it operates fully driverless urban services, positions it well for international expansion.Related Stories
Market Reaction and Competition
The news of Apollo Go's progress in Dubai has been well-received by investors. Baidu's Hong Kong-listed shares gained 5.5% in early trade following the announcement, outperforming the Hang Seng Tech Index
2
. The company's ADRs closed 5.8% higher in the U.S., bringing their year-to-date gains above 57%2
.Apollo Go is not alone in its Middle Eastern expansion. Other Chinese robotaxi firms, including Pony AI and WeRide, are also making moves in the region. WeRide has partnered with Uber for services in Saudi Arabia and Abu Dhabi, while Pony AI is launching driverless taxi services in Dubai
2
. This highlights the growing competition and interest in the Middle Eastern autonomous driving market.References
Summarized by
Navi
[1]
[2]
Related Stories
Weekly Highlights
Weekly Highlights
Today's Top Stories
Your Daily Dose of Curated AI News
Don’t drown in AI news. We cut through the noise - filtering, ranking and summarizing the most important AI news, breakthroughs and research daily. Spend less time searching for the latest in AI and get straight to action.
