Baidu, the Chinese internet search giant, announced on Wednesday that its Apollo Go robotaxi service has given more than 11 million rides since it started in 2019. The company, based in Beijing, revealed that Apollo Go completed 1.4 million rides worldwide in the first quarter, showing a 75 per cent increase compared to the previous year. Besides mainland China, the service is undergoing testing in Hong Kong, Dubai, and Abu Dhabi.
CEO Robin Li Yanhong stated during an earnings call on Wednesday that with over 1,000 fully driverless vehicles operating in 15 cities, they aim to expand and enhance their successful approach in robotaxi operations. “We plan to strengthen our presence in current markets and strategically enter new ones,” Li added. This announcement was made as part of Baidu’s first-quarter financial results, which showed a revenue of 32 billion yuan (US$4.5 billion) for the three months ending in March, a 3 per cent increase from the previous year, exceeding the 31 billion yuan consensus estimate from analysts polled by Bloomberg. Quarterly profit also saw a significant jump of 42 per cent to 7.7 billion yuan, surpassing expectations of a 27 per cent decline to 4 billion yuan.
Revenue from Baidu’s artificial intelligence (AI) cloud business saw a 42 per cent year-on-year increase, surpassing overall growth, as highlighted by Li. The company’s continuous growth in this sector is a testament to its commitment to innovation and technological advancement, driving its success in the competitive market. Baidu’s relentless pursuit of excellence and strategic expansion plans indicate its strong position in the industry, setting the stage for further growth and development in the future. The impressive performance in the first quarter reflects Baidu’s resilience and adaptability in the ever-evolving tech landscape, solidifying its reputation as a key player in the global market.
