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Baidu Launches $1.5 Billion Autonomous-Vehicle Tech Fund
Chinese internet services giant Baidu Inc. has unveiled a 10 billion-yuan ($1.5 billion) fund to promote projects related to the technologies needed for self-driving vehicles.
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Chinese internet services giant Baidu Inc. has unveiled a 10 billion-yuan ($1.5 billion) fund to promote projects related to the technologies needed for self-driving vehicles.
Baidu says its new Apollo Fund will invest in 100 such programs between now and 2020. The announcement comes as the company releases Apollo 1.5, a more powerful second-generation version of its autonomous-vehicle operating platform.
The open-source software, which began as an internal project at Baidu, is part of a 70-partner consortium that aims to put a fully automated car on the road in China by 2020.
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