Ride-hailing platform Uber (UBER) and Chinese tech giant Baidu (BIDU) have joined hands to deploy thousands of Baidu’s Apollo Go autonomous vehicles on the Uber platform. Under this multi-year partnership, initial rollouts are expected in global markets outside the U.S. and mainland China.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Following the news, Baidu stock jumped about 8% on Tuesday morning in the U.S., while Uber stock was down 1.6%.
According to the deal, Baidu’s Apollo Go robotaxis, already operating in 15 cities and having completed over 11 million rides, will be integrated into Uber’s ride-hailing network. As part of initial rollouts in Asia and the Middle East later this year, driverless Uber rides are set to launch in cities like Dubai and Abu Dhabi.
Uber CEO Dara Khosrowshahi called the partnership “a major milestone,” noting that Uber’s global reach makes it the ideal platform to scale Baidu’s autonomous technology.
Deal Benefits to UBER and Baidu
This partnership further bolsters Uber’s position in the autonomous vehicle space, adding to existing deals with companies like Alphabet’s (GOOGL) Waymo in Austin and Atlanta, and Volkswagen (VWAGY) for robotaxi testing and deployment in Los Angeles next year. In the U.K., Uber has also partnered with startup Wayve for trials of fully autonomous rides.
At the same time, for Baidu, it is a chance to expand its footprint beyond China and compete better with global players in the robotaxi race.
Is UBER a Good Stock to Buy?
On TipRanks, UBER stock has a Strong Buy consensus rating based on 29 Buys and four Holds assigned in the last three months. The average Uber stock price target of $102.05 suggests an upside potential of 10.48% from its current price. Year-to-date, shares of the company have gained about 53%.
What Is the Future of BIDU Stock?
Turning to Wall Street, BIDU stock has a Moderate Buy consensus rating based on six Buys and five Holds assigned in the last three months. At $103.09, the average Baidu price target implies an 11.98% upside potential. Shares of the company have gained 9.22% so far in 2025.
