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Baidu to fund US$1.5b in driverless cars

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BAIDU yesterday announced a US$1.5 billion investment in autonomous driving projects over the next three years, as it seeks to diversify its portfolio and compete with rivals such as Google. Over the next three years, the “Apollo Fund” will invest 10 billion yuan (US$1.5 billion) in over 100 autonomous driving projects, the company said in a press release. Read more

Shanghai Daily