Baidu Shares Surge on Uber Partnership for Global Robotaxi Deployment

Baidu's shares rose 3.0% in Hong Kong after the company announced a multiyear strategic partnership with Uber to deploy thousands of Apollo Go robotaxis on the Uber platform across global markets outside of the U.S. and mainland China. The first deployments are expected in Asia and the Middle East later this year. Goldman Sachs analysts remain positive on the robotaxi industry's growth due to advancements in technology and raised estimates for the Chinese robotaxi industry's total addressable market size for 2026 to 2035.

Baidu's shares rose by 3.0% in Hong Kong following the announcement of a multiyear strategic partnership with Uber to deploy thousands of Apollo Go robotaxis on the Uber platform across global markets outside of the U.S. and mainland China. The first deployments are expected in Asia and the Middle East later this year. Goldman Sachs analysts remain positive on the robotaxi industry's growth due to advancements in technology and have raised estimates for the Chinese robotaxi industry's total addressable market size for 2026 to 2035 [1].

Under the new partnership, Uber riders will soon be able to book fully driverless rides powered by Baidu’s Apollo Go autonomous vehicles, directly through the Uber app. The collaboration aims to deliver safe, efficient, and affordable mobility to riders worldwide. Dubbed as a major step in taking autonomous driving technology to a global stage, the partnership will see Baidu's Apollo Go, currently the world’s largest autonomous ride-hailing network, expand its footprint beyond China [1].

The partnership is a significant expansion for both companies. For Baidu, it represents a pathway to scale its autonomous vehicle (AV) footprint outside of China. For Uber, it is a step closer to integrating autonomous fleets into its network globally, offering more flexible and affordable transport options. Both companies aim to gradually scale operations in partnership with local authorities and transit agencies, with more deployment details expected in the coming months [1].

Goldman Sachs analysts have expressed optimism about the robotaxi industry's growth potential, attributing it to technological advancements and the increasing demand for innovative mobility solutions. The analysts have also raised their estimates for the Chinese robotaxi industry's total addressable market size for 2026 to 2035, reflecting the growing market opportunities in this sector [1].

The partnership between Baidu and Uber is set to reshape the future of transportation, bringing advanced autonomous driving technology to new markets. As regulatory approvals and pilot programs progress, both companies are poised to capitalize on the growing demand for autonomous mobility solutions.

References:
[1] https://gulfnews.com/business/markets/uber-partners-with-baidu-to-deploy-apollo-go-robotaxis-in-asia-middle-east-1.500199071