Baidu is focusing on reducing losses in its Apollo Go business. The fully driverless fleet in Wuhan has grown threefold YoY, with 70% of orders being fully driverless as of April, up from 45% in 4Q23. Baidu has initiated driverless robotaxi services in 11 cities across China, accumulating over 6 million rides with an accident rate only 1/14th that of human drivers. The cost of the sixth-generation autonomous vehicle has decreased by 60% compared to the fifth generation, bringing the price down to 200,000 RMB, thus facilitating commercial deployment. National and local policies are being introduced to optimize the business environment for autonomous driving, supporting the replication of the Wuhan Success across the country. In 2024, RoboTaxi plans to achieve full city coverage in Wuhan with 1,000 new vehicles, aiming to break even by the end of the year and become fully profitable by 2025. Many users have complained about the poor condition of Didi(china uber), citing dirty seats, bad air quality, and some drivers' reluctance to turn on the air conditioning, leading to a poor riding experience. Compared to human-driven cars, many users express a preference for autonomous vehicles like ApolloGO robotaxi, believing they can offer better service and cheaper prices.
luxcan : Just enter with a small position. Feel it is undervalued similar to other china stocks