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    1958   CNE100001TJ4

BAIC MOTOR CORPORATION LIMITED

(1958)
  Report
End-of-day quote. End-of-day quote Hong Kong Stock Exchange - 09/17
2.91 HKD   +1.04%
09/12China's Auto Sales Slump 17.8% in August
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09/08China's Passenger Car Sales Plunge 15% in August
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09/01South Korea's SK Innovation Earmarks $1 Billion for Battery Factory in China
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BAIC Motor : Baidu's EV firm Jidu hires ex-Cadillac designer

06/28/2021 | 05:13am EDT
FILE PHOTO: Jidu Auto CEO Xia Yiping attends an interview with Reuters in Beijing

BEIJING (Reuters) - Jidu Auto, a smart electric vehicle venture between China's tech giant Baidu Inc and Chinese automaker Geely, said it has hired Frank Wu, formerly at Cadillac, to lead its design studio.

Jidu's chief executive Xia Yiping told Reuters in April that the new company, founded in January, aims to invest 50 billion yuan ($7.7 billion) into producing smart cars over the next five years.

Wu previously worked for General Motors Co's premium Cadillac brand in Warren, Michigan, and led design studio of Beijing brand of Chinese state-owned automaker BAIC in Beijing.

Baidu's EV making plan comes as tech companies around the world are racing to develop smart cars after Tesla's success in commercializing EVs. The collaboration is based on Geely's EV-focused platform, Sustainable Experience Architecture (SEA). Baidu currently owns 55% of Jidu and Geely has a 45% stake.

Reuters earlier reported Jidu's hiring, citing people familiar with the matter.

Shanghai and Beijing based Jidu also plans to roll out its car brand in the third quarter of 2021.

(Reporting by Yingzhi Yang, Yilei Sun and Tony Munroe, editing by Louise Heavens)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BAIC MOTOR CORPORATION LIMITED 1.04% 2.91 End-of-day quote.1.39%
TESLA, INC. 0.33% 759.49 Delayed Quote.7.63%
All news about BAIC MOTOR CORPORATION LIMITED
09/12China's Auto Sales Slump 17.8% in August
MT
09/08China's Passenger Car Sales Plunge 15% in August
MT
09/01South Korea's SK Innovation Earmarks $1 Billion for Battery Factory in China
MT
08/31BAIC MOTOR : Attributable Net Profit, Revenue Climbs in H1
MT
08/30Baic Motor Corporation Limited Reports Earnings Results for the Half Year End..
CI
08/27MARKET CHATTER : Insiders Raise Concern Over Huawei's Smart-Car Partnerships
MT
08/15China's Auto Exports Surge 180% to New Record High in July
MT
08/12MARKET CHATTER : FAW Leads $128 Million Funding Round for Chinese Smart Car Tech..
MT
08/11China's Auto Sales Fall 11.9% in July on Chip Supply Crunch, Higher Raw Mater..
MT
08/10China's Passenger Car Sales Fall 6.2% in July
MT
More news
Analyst Recommendations on BAIC MOTOR CORPORATION LIMITED
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Financials
Sales 2021 189 B 29 307 M 29 307 M
Net income 2021 3 773 M 584 M 584 M
Net cash 2021 31 270 M 4 836 M 4 836 M
P/E ratio 2021 5,09x
Yield 2021 5,74%
Capitalization 19 379 M 2 997 M 2 997 M
EV / Sales 2021 -0,06x
EV / Sales 2022 -0,09x
Nbr of Employees 19 759
Free-Float 89,8%
Chart BAIC MOTOR CORPORATION LIMITED
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Technical analysis trends BAIC MOTOR CORPORATION LIMITED
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Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 21
Last Close Price 2,42 CNY
Average target price 2,56 CNY
Spread / Average Target 5,73%
EPS Revisions
Managers and Directors
Wen Bing Huang President, CEO & Executive Director
De Ren Li Vice President, Director-Finance & Economics
Cheng Jun Li Chairman-Supervisory Board
De Yi Jiang Chairman
Song Lin Ge Independent Non-Executive Director
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