Baidu shares rose 14% on Tuesday after news was announced that the Chinese search engine based company was planning on building their own electric vehicles.
Its great to see that Chinese technology companies are starting to think about the EV sector and how they can disrupt the auto industry. Alibaba has also partnered with Chinese automaker SAIC to develop premium EVs for the Chinese market.
It will be interesting to see how this unfolds as technology companies are very well placed to enter this market and make huge disruptions in the same way Tesla has.