China's Baidu to create an intelligent EV company with automaker Geely

China's search engine giant Baidu Inc said it will set up a company to partner with car maker Zhejiang Geely Holding Group to make smart electric vehicles (EV), the latest move by a tech company in the fast-evolving sector. Geely will also be a strategic investor in the new company, which will be an independent subsidiary of Baidu.

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