Baidu will partner with Geely to set up an electric car company

According to a report by Reuters, Baidu is planning to set up a smart electric vehicle company that will be produced at Geely Auto's plant.In addition, Baidu will control a majority stake and absolute voting rights in the new company.
According to Reuters, a source familiar with the matter has revealed that Baidu will adapt existing production facilities at Geely's plant to accommodate its electric vehicles.Baidu will provide on-board software for the new cars, while Geely will provide production technology for the new cars.The partners may negotiate the use of Geely's electric vehicle platform SEA.
As early as December, it was reported that Baidu was considering producing its own electric cars and was seeking partnerships with automakers to form joint ventures.The sources said Baidu has held preliminary talks with auto makers including Geely Holding Group, GAC Group and Hongqi, a subsidiary of China's FAW Group, but no agreement has been reached.