Baidu's Robotaxi Service Hits 1.1 Million Paid Rides In Q4, Expands To Hong Kong As 1st Operator Allowed To Test Autonomous Vehicles

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The Future Fund Managing Partner Gary Black highlighted key metrics from Baidu Inc.’s (NASDAQ:BIDU) autonomous driving progress, noting that the company’s robotaxi service achieved 1.1 million paid rides in the fourth quarter of 2024, jumping 36% year-over-year, according to his post on X.

What Happened: Black emphasized three critical developments: the service’s transition to 100% fully driverless operations with no remote operators, a cumulative total of 9 million robotaxi rides, and Baidu’s groundbreaking entry into Hong Kong as the first ride-hailing operator permitted to test its autonomous platform there.

The Hong Kong expansion in November marks Baidu’s first venture into a right-hand drive, left-hand traffic market, demonstrating the platform’s adaptability to different driving environments.

During the earnings call, CEO Robin Li underscored the company’s decade-long investment in autonomous driving technology, noting that Apollo Go operates in “one of the most challenging environments” due to complex traffic conditions in China.

The company deploys its sixth-generation autonomous vehicle, the RT6, specifically designed for robotaxi operations.

From today's $BIDU earnings call on autonomous driving:
– # paid robotaxi rides 1.1M in 4Q +36% YoY
– cumulative robotaxi rides now 9 million
– 100% fully driverless (no remote operator)
– In Nov, Baidu was granted a permit to test its robotaxi platform in Hong Kong – the first… pic.twitter.com/45Mxskhvyy
— Gary Black (@garyblack00) February 18, 2025

See Also: Grab Stock Is Up 52% Over The Past Year, But Investor Adam Khoo Warns Of Weak ‘Economic Moat’ And Growth Limits

Why It Matters: Baidu plans to accelerate its growth through an asset-light approach, partnering with mobility service providers and local entities for efficient scaling. This expansion comes as the company competes with Tesla Inc. (NASDAQ:TSLA) and Alphabet Inc.‘s (NASDAQ:GOOGL) (NASDAQ:GOOG) Waymo in the autonomous vehicle space.

The robotaxi milestone accompanied Baidu’s broader fourth-quarter results, where the company reported revenue of $4.68 billion, exceeding analyst estimates despite a 2% year-over-year decline. The company’s AI Cloud business showed particular strength, growing 26% during the quarter.

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