Ji Yue (Jiyue Automotive Technology)

History

2023: Building a Company

On August 15, 2023, it became known that the Chinese automaker Geely Holding Group and the local Internet corporation Baidu created a new brand Ji Yue (Jiyue Automotive Technology). It is planned to produce high-end smart cars under it.

It is said that the partners will focus on creating vehicles with autopilot functions. The first project will be the Ji Yue 01 model. Geely will provide its own automotive platform, Sustainable Experience Architecture (SEA), as well as research, development and production resources for the new brand. In turn, Baidu will contribute in the form of various intelligent systems, including the Ernie Bot chat bot based on the neural network.

Ji Yue Car Project

The creation of the Ji Yue brand is a new stage in the development of cooperation between Geely and Baidu. In early 2021, the companies formed a joint venture Jidu Auto, the main task of which was to produce electric robomobiles. Then Baidu received a 55 percent stake in the new company, Geely - 45 percent. In the case of Jiyue Automotive Technology, the automaker Geely, on the contrary, became the owner of the main share - 65%. The remaining 35% went to Baidu.

It is noted that the upcoming Ji Yue 01 car will be largely similar to the Jidu Robo-01, a high-tech electric crossover with an advanced autopilot system. The debut of this car took place in early June 2022.

It is known that the authorized capital of Jiyue Automotive Technology is 10 million yuan (about $1.37 million at the exchange rate as of August 16, 2023). Xia Yiping, who is also chief executive of Jidu, has been appointed CEO of the company. The leadership included Zhang Quan, senior vice president of Geely.^[1]

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