China's Baidu, CATL to jointly develop 'competitive' driverless vehicles

China's Baidu (9888) and electric vehicle battery giant Contemporary Amperex Technology will jointly explore the development of "competitive" driverless vehicles and innovative business models, the companies said on Thursday.

As part of a strategic agreement focusing on digital intelligence and autonomous driving, the companies will team up to develop and apply CATL's power batteries, battery swapping products and services, and skateboard chassis technology in driverless vehicles.

REUTERS