Baidu has invested at least $100m in high-end Chinese electric carmaker NextEV, as the search engine group looks to boost flagging revenue by diversifying into artificial intelligence and unmanned cars.
The investment in NextEV was the first made by Baidu Capital, the search engine’s $3bn investment fund set up in October to expand the company’s footprint in internet-based technologies, writes Emily Feng in Beijing.
“Baidu Group is very supportive of this investment and look forward to future business co-operation with NextEV,” said Baidu.
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