Baidu confirms tie-up with Geely to create intelligent EV company

  • Baidu has announced its plan to establish a company to produce intelligent electric vehicles (EV)
  • It has entered into a strategic partnership with multinational auto manufacturer Zhejiang Geely Holding Group in this regard
  • Baidu will provide intelligent driving capabilities to power the passenger vehicles for the new venture, and Geely, which holds the distinction of best-selling Chinese automobile brand in past years under the Volvo and Geely brands, will contribute its expertise in automobile design and manufacturing
  • China has become the world's largest market for EVs, and it is seeing EV consumers demanding next generation vehicles to be more intelligent

    Baidu fundamentals

    For this year the company, based inBeijing revenue will be around 107.07 billion SEK. This is according to the average of the analysts' estimates. This is slightly lower than 2019's revenue of 107.41 billion SEK.

    Historical revenues and results Baidu plus estimates 2020

    aandeel

    The analysts expect for 2020 a net profit of 21.01 billion SEK. For this year the majority of the analysts, consulted by press agency Thomson Reuters, expects a profit per share of 60.43 SEK. With this the price/earnings-ratio is 4.17.

    For this year analysts don't expect the company to pay a dividend. The average dividend yield of the internet companies equals a low 0.09 percent.

    Latest estimates around 169 SEK

    The most recent recommendations for the internet company are from ABN AMRO , JP Morgan and Jefferies & Co.

    The Baidu stock was the past 12 months quite unstable. Since last January the stock is even 88 percent higher. This year the stock price moved between 82 and 265 yuan.

    Historical stock prices Baidu

    stock graphs baidu

    Click here for dividend Baidu. On Thursday the stock closed at 251.91 SEK.

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