Baidu teamed up with Asia Mobility Industries (AMI) to launch a new Singapore-based mobility venture fund, called “Apollo Southeast Asia” , according to TechCrunch.
The fund being launched along with the joint venture includes $200 million in available investment capital, which will be put into companies working on all aspects of autonomous driving and connected, smart transportation services.
The tie-up was announced on Monday at the Consumer Electronics Show 2018 in Las Vegas.
Baidu’s partner in the region, AMI, is a company that works on AI and mobility services, and it’s working with Singapore’s transit authority through one of its subsidiaries to develop smart mobility solutions for the region that can work across borders and improve transportation for residents of Southeast Asia.
The company pouring more resources into the region should help it grow the stable of partners it has on its Apollo platform even further; already, the list is getting bigger with a number of announcements at CES. Ultimately, Baidu hopes Apollo will become a sort of Android of the autonomous driving world, acting as an open platform that a range of automakers and other companies use as the basis for their own self-driving vehicles and services.
Qi Lu, Group President and COO of Baidu, said, “AI and innovation are borderless. We’re facing a historic moment with immense opportunities for people around the world, which requires big countries and great enterprises, including China and Baidu, to lead and explore together. We are very pleased to be at the centre of this large-scale innovation and stand together with each partner at the forefront of this momentous time.”