- Baidu Inc (NASDAQ:BIDU) will start trials for the Apollo Go service in Shanghai, marking the fifth city where passengers can test the robotaxi mobile platform.
- Baidu is the only company to offer this service in the three first-tier cities of Beijing, Guangzhou, and Shanghai. The Shanghai operation will include 150 stations opened in phases throughout the city.
- China recently summoned ride-hailing services of 11 firms, including Alibaba Group Holding Ltd (NYSE:BABA), DiDi Global Inc (NYSE:DIDI), and Meituan (OTC:MPNGF) (OTC: MPNGY) for alleged misconduct.
- The Chinese tech stocks are down following intensified tech crackdown from the country.
- Price Action: BIDU shares traded lower by 0.07% at $163.99 in the market session on the last check Monday.
Alibaba Faces Another Setback As Ant’s Major Investor Slashes Valuation: Reuters
U.S. private equity firm Warburg Pincus, a major global investor in Alibaba Group Holding Ltd (NYSE:BABA) backed Ant Group, slashed its…
