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MarketScreener Homepage  >  Equities  >  Tokyo  >  Toyota Motor Corp    7203   JP3633400001

TOYOTA MOTOR CORP

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China tech giant Baidu partners with Geely, Toyota

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07/08/2019 | 01:37am EDT
A security personnel stands guard at the opening session of Baidu's annual AI developers conference in Beijing

(This July 4 story is refiled to remove reference to self-driving push in headline.)

BEIJING (Reuters) - China's top search engine operator Baidu Inc has joined hands with Zhejiang Geely Holding Group and Japan's Toyota Motor Corp to cooperate on areas related to artificial intelligence (AI) amid a push for self-driving cars.

Under their partnership, Geely and Toyota have joined Apollo, an autonomous driving platform by Baidu.

Baidu will provide Apollo Minibus, a software product for autonomous bus vehicles, to Toyota's e-Palette vehicles in the future, and will work with the automaker to explore more uses of autonomous driving technologies, said Li Zhenyu, vice president of Baidu who is in charge of its intelligent driving unit.

With Geely, Baidu will cooperate in AI applications such as intelligent connectivity and smart mobility, Baidu CEO Robin Li and Geely Chairman Li Shufu said at Baidu Create 2019, a yearly gathering where the company shows its advances in AI.

Global automakers, large technology companies and startups are all engaged in self-driving efforts, but experts say it will be years before systems are ready to be rolled out.

China, the world's largest auto market, is at the forefront of this push for automation and is keen to have its own players to compete with global leaders such as Tesla and Waymo, the self-driving arm of Google parent Alphabet.

Chinese cities, including Beijing and Shanghai, have previously announced local guidelines for self-driving tests.

Baidu already has approval to test self-driving vehicles on some city streets.

(Reporting by Yilei Sun and Norihiko Shirouzu in Beijing; Editing by Himani Sarkar)

Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET 0.85% 1179.21 Delayed Quote.12.85%
BAIDU 2.49% 96.7 Delayed Quote.-39.03%
ONE STOP SYSTEMS INC -2.92% 1.66 Delayed Quote.-14.43%
TESLA INC. 1.99% 219.94 Delayed Quote.-33.91%
TOYOTA MOTOR CORP -0.07% 6790 End-of-day quote.9.87%
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Financials (JPY)
Sales 2020 30 423 B
EBIT 2020 2 580 B
Net income 2020 2 286 B
Debt 2020 14 662 B
Yield 2020 3,49%
P/E ratio 2020 8,51x
P/E ratio 2021 8,09x
EV / Sales2020 1,11x
EV / Sales2021 1,13x
Capitalization 19 090 B
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Number of Analysts 23
Average target price 8 057,50  JPY
Last Close Price 6 790,00  JPY
Spread / Highest target 47,3%
Spread / Average Target 18,7%
Spread / Lowest Target -2,80%
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Managers
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Akio Toyoda President & Representative Director
Takeshi Uchiyamada Chairman
Koji Kobayashi CFO, Representative Director & EVP
Shigeki Terashi Director & Executive Vice President
Shigeru Hayakawa Vice Chairman
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