Baidu's Hong Kong stocks surged, and the Robotaxi business has a promising future

On July 10, Baidu's Hong Kong stock price rose sharply, with the increase exceeding 12% at one point, closing at 10.14%. At the same time, A-share stocks related to Robotaxi also rose sharply. Analysts believe that this phenomenon is due to the fact that Baidu's Robotaxi business is expected to break even by the end of 2024 and start to make profits in 2025. Wang Yunpeng, head of Baidu Apollo, proposed a new goal of 100 million in revenue and 100 million in profit.