Baidu to invest in electric car startup

Business & Technology

Top business and technology news for March 6, 2017. Part of the daily SupChina news roundup "New airport in Tibet near disputed border.

  • Baidu rumored to invest in electric car startup solidifying autonomous car strategy / TechNode
    Internet giant Baidu reportedly plans to invest about $100 million in NextEV, a high-end electric car manufacturer founded in Shanghai in November 2014. The alliance is intended to boost Baidu’s faltering autonomous driving business. NextEV has raised more than $600 million since June 2015, and last year launched its first electric car — the NIO EP9.
  • How China’s Airbnb copycats beat the Silicon Valley titan at its own game / SCMP
    Zhu Bai Jia is a Shenzhen-based startup founded in 2012 that assists Chinese outbound tourists with short-term rentals in some 70 countries, and also helps them plan entire trips. Airbnb launched a similar service last year. “The joke in our sector is that ‘China used to copy Silicon Valley, but now it is Silicon Valley that copies China,”’ according to Li Le, a spokesperson for Zhu Bai Jia.