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Baidu is expected to open up growth space as auto industry chain reshaping
As the 5G + AI era is approaching, smart speakers, new energy vehicles and many other products that have been given a new era label are emerging. Under the empowerment of Tesla, Nio and other new force for building cars that have taken the lead in listing in U.S. stocks, the domestic new energy vehicle industry can be described as extraordinarily lively, and the game on the track is also fierce.
After Tesla, Li Auto and Xpeng went public in the U.S. this year, and recently, WM Motor also announced that it completed its Series D round of financing, the biggest round of funding closed by a Chinese EV startup.
The investors include Chinese internet giant Baidu, SIG Asia Investments, and a number of equity firms owned by regional governments, including those of central Hubei province as well as eastern Jiangsu and Anhui provinces. In fact, the cooperation between Baidu and WM Motor has a long history. In a sense, Baidu has provided tremendous support for its rapid development. And, at the Baidu World Congress, WM Motor and Baidu also teamed up to showcase the AVP self-parking technology. It can be seen that Baidu and WM Motor are becoming a new force in the automotive field.
So, what is the purpose of Baidu's investment in WM Motor? In the current process of reshaping the automotive industry, what will be Baidu's place in the new automotive industry?
Baidu's investment in WM Motor is a huge eye-catcher
At present, the four major new car-making forces in China have all completed their capital bundling with the Internet giants.
• Tencent has supported the first U.S.-listed company Nio. And the data shows that, as of the evening of July 13, according to the documents submitted by Nio and Tencent to the U.S. Securities and Exchange Commission (SEC), Tencent's shareholding in Nio reached 16.3%, with voting rights only next to Nio's founder Li Bin.
• Li Auto was supported by Meituan, the founder and CEO Wang Xing and Meituan Corporation held a combined 23.3% stake in Li Auto, with 8% of the voting rights.