Refute the rumor! Geely has not quit, Xia Yiping is still CEO of Jidu Automobile

On June 30, news broke that Geely affiliates withdrew from Jidu Automobile, Xia Yiping stepped down as CEO and became wholly-owned by Baidu.

Tianyancha shows that the company with the change in industrial and commercial information is Jidu Automobile Co., Ltd., and the change time is June 28.Shanghai Maple Automobile Co., Ltd., an affiliate of Zhejiang Geely Holding Group, withdrew, and the shareholding ratio of Baidu affiliate Dazi County Bairuixiang Venture Capital Management Co., Ltd. rose to 100%.At the same time, the board members changed, Xia Yiping, CEO of Jidu Automobile, and An Conghui, President of Geely Holding Group, both withdrew.The legal representative changed from Xia Yiping to Liang Zhixiang.

Image source: Tianyancha

Jidu Automobile responded that the"Jidu Industrial and Commercial Change" is a normal adjustment based on business development. Jidu is still jointly held by Baidu and Geely, and the shares held by both parties remain unchanged. Jidu CEO is still Xia Yiping.Xia Yiping also publicly denied Geely's exit and resignation as CEO.

Another Jidu Automobile company jointly held by Baidu and Geely is Shanghai Jidu Automobile Co., Ltd., which was established in November 2021. The legal representative is Xia Yiping, and Geely Holding Group CEO Li Donghui is the director of the company.

Image source: Xia Yiping Weibo

According to the data, Jidu Automobile, jointly held by Baidu and Geely, will cooperate closely in the field of smart car manufacturing based on Geely's world-leading pure electric architecture and the vast SEA intelligent evolution experience architecture to jointly build the next generation of smart cars.In January this year, Jidu completed nearly $400 million in Series A financing, which was jointly increased by Baidu and Geely.

A few days ago, Jidu's first concept carRobo-01 was released, and it is expected to release a mass-produced car in the third quarter of this year.