(Yicai Global) July 6 -- Dutch car-navigation software maker TomTom NV [TOM2:NA] has signed an agreement with China's Internet behemoth Baidu Inc. [NASDAQ: BIDU] to together develop high-precision maps for autopilot functions, according to Sina.com.
TomTom did not out the terms of the deal, saying only it will not impact current profitability.
Regulatory issues have made China a weak link in TomTom's map coverage. Baidu will use TomTom's real-time map platform to better apply high precision map-related technology in China.
Baidu founder, chairman and chief executive Robin Li showed video footage of an unmanned car that the company had developed at the Create 2017 Baidu AI Developer Conference held this morning. The clip shows Li sitting in the passenger seat of a red car with an empty driver's seat. Li relates how he has just merged onto Beijing's busy 5th Ring Road on the way to the venue, then says "This car is in autopilot mode." The entire video is about one minute in length. Relevant information has been recorded and an investigation of this incident is now underway, traffic authorities said. Current law bars self-driving vehicles from China's roads.