Reuters: China’s Baidu launches $1.5 billion autonomous driving fund

Reuters: China’s Baidu launches $1.5 billion autonomous driving fund. “Chinese search engine Baidu Inc (BIDU.O) announced a 10 billion yuan ($1.52 billion) autonomous driving fund on Thursday as part of a wider plan to speed up its technical development and compete with U.S. rivals. The ‘Apollo Fund’ will invest in 100 autonomous driving projects over the next three years, Baidu said in a statement.”