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Transcript

00:00:00
>> Good afternoon, ladies and->> This is Volvo striking a deal with the Google of China. The Swedish auto maker tying up with Baidu to develop driverless taxis.>>
UNKNOWN]
I do West partners.
00:00:17
>> The deal sets up a battle between Baidu and the actual Google. The US search giant has its own driverless cars program in partnership with Fiat, Chrysler, and others. Waymo due to start picking up passengers this year, and it's already setup a Shanghai unit to target the Chinese market.
00:00:35
Baidu has the resources to go head-to-head. Reuters China technology correspondent, Cate Cadell, was at Thursday's deal announcement in Beijing.>> And this is the kind of technology that Google's sort of already working with and already testing in the US without drivers. So while they haven't really given us a timeline, the president of Baidu said they wanna get to volume very soon.
00:00:58
>> Volvo already had a deal with Uber to supply 24,000 driverless cars from next year. This is its vision of what autonomous vehicles might look like. But Reuters sources say the Uber deal is in doubt, that makes the Baidu agreement a bit of a coup.>> For other Western companies, this is something they really wanna be doing with Baidu because Baidu is the leader of autonomous driving in China.
00:01:23
It's also got a lot of support from the Chinese government. Even though Baidu says itself that perhaps regulations won't be in place for fully autonomous driving until around 2022.>> Volvo did have a trump card to play in talks with Baidu. The Swedish brand is owned by a Chinese firm,
00:01:41
Beijing likely to see happy two of its best known companies gearing up for battle with Google.>>