Chinese tech titan Baidu and carmaking giant Geely to pour US$7.7 billion into making next-generation smart cars

• Jidu Auto, the electric vehicle venture formed by Baidu and Geely, said it will invest the money over the next five years and aims to deliver its first smart car by 2024
• The two said in January they would team up to make smart electric cars, making use of Baidu’s intelligent driving technology and Geely’s car manufacturing expertise