RTTNews | Jan 26, 2022 05:59AM EST

05:59 Wednesday, January 26, 2022 (RTTNews.com) - Baidu's Inc. (BIDU), a Chinese technology company, said on Wednesday that its intelligent electric vehicle arm JIDU has closed Series A financing, raising nearly $400 million.

With the move, JIDU is set to continue to drive the progress in research and development to achieve the mass production of the smart vehicles.

The brand's first Robocar concept will be unveiled at the Beijing Auto Show in April, with a mass-produced model set to be launched in 2023, the company said in a statement.

The latest round of financing was backed by Baidu and its strategic partner and automaker Zhejiang Geely Holding Group.

Read the original article on RTTNews ( https://www.rttnews.com/3257312/jidu-raises-nearly-400-mln-from-series-a-financing-round.aspx)

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