(Yicai Global) Nov. 14 -- China's internet colossus Beijing Baidu Inc. [NASDAQ:BIDU] will partner with Chinese carmaker Lifan Industry (Group) Co. [SHA:601777] to jointly build autonomous driving, smart networking and intelligent transport technology and a related business ecology.
The two companies signed their cooperative agreement in Beijing together with a new energy vehicle smart travel platform of Lifan Industry (Group) on Nov. 13, it announced that evening.
The three will work together in driverless vehicle technology, high-precision maps and the Apollo project to jointly develop and commercialize self-driving vehicle technology and market it, per the announcement.
The Apollo project is an open autonomous driving technology platform Baidu developed. The tripartite cooperation mainly includes Baidu Maps becoming the sole partner of Lifan Industry (Group) in automatic driving and driverless vehicle technology, and Lifan Industry (Group) and its smart travel platform company joining Baidu Apollo ecology and plying strategic cooperation, Chongqing Daily reported.
This framework cooperation agreement leaves the specific amount of future transactions and cooperation projects open and subject to later supplementing contracts signed as an incident to actual future collaboration, the announcement said.