Baidu’s (BIDU) autonomous ride-hailing arm, Apollo Go, is teaming up with UAE-based AutoGo to grow its driverless fleet in Abu Dhabi, with plans to deploy hundreds of autonomous vehicles by 2026. This expansion comes after they recently got one of Abu Dhabi’s first permits to operate a fully driverless robotaxi service.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
The permit is issued by the Integrated Transport Centre (ITC) and allows Apollo Go and AutoGo to offer autonomous rides to the public without a safety driver on board. This makes Abu Dhabi one of the first cities globally to greenlight such services at scale.
Driving Abu Dhabi’s Smart Mobility Vision
The fleet expansion supports Abu Dhabi’s plan to make 25% of trips smart and tech-driven by 2040. The partnership is expected to improve traffic efficiency, reduce emissions, and offer residents a more connected and sustainable way to travel.
Apollo Go brings its advanced self-driving tech and operational experience from China, where it has already deployed robotaxis in multiple cities.
At the same time, AutoGo, backed by K2 Group, brings local expertise and resources that help speed up smart transport growth across the UAE.
It is worth noting that the companies have already spent months testing fully driverless cars on Abu Dhabi’s roads since March. With the new permit and expanded fleet plans, they are now preparing for large-scale commercial operations.
Is BIDU a Good Stock to Buy Now?
Turning to Wall Street, BIDU stock has a Moderate Buy consensus rating based on 12 Buys, five Holds, and two Sells assigned in the last three months. At $134.86, the average Baidu price target implies 2.01% upside potential.
