Jidu Auto and Geely cooperate to establish a new company

Jidu Auto is the product of the cooperation between Baidu and Geely. On January 11, 2021, Baidu officially announced its car manufacturing. In March of the same year, Shanghai Jidu Auto Co., Ltd. (later renamed "Shanghai Mihang Auto Co., Ltd.") was established, with Baidu holding 55% and Geely holding 45%. In October 2022, Jidu's first car, Jidu ROBO-01, started pre-sale. However, due to production qualification issues, Geely and Baidu later established Hangzhou Jiyue Automobile Technology Co., Ltd., with each party holding 65% and 35% of the shares respectively, and the "Jidu Auto" brand was renamed "Jiyue Auto", and the original Jidu Auto's first model "Jidu ROBO-01" was also renamed "Jiyue 01".