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Electric cars in China

Baidu electric vehicle arm Jidu raises $400m in new funding round

Unit aims to roll out mass-produced 'robot cars' in 2023

Jidu CEO Xia Yiping said in April that the company would raise a total of $7.9 billion to produce smart cars over the next five years.   © Reuters

BEIJING (Reuters) -- Baidu's electric vehicle (EV) arm Jidu Auto said on Wednesday that it had raised nearly $400 million from Baidu and Zhejiang Geely Holding Group in a fresh funding round.

Jidu, an EV venture between China's search engine company Baidu and Chinese automaker Geely, said in a statement that it would deliver its mass-produced "robot" cars in 2023.

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