China's leading internet search provider Baidu Inc. has decided to establish a new company to produce an electric vehicle, apparently becoming a major rival of U.S. tech giant Apple Inc., local media reported Tuesday.Baidu said Monday that it has planned to build a strategic alliance with Chinese carmaker Zhejiang Geely Holding Group to develop a "smart EV" utilizing internet and artificial intelligence technologies.The new EV is likely to be equipped with state-of-the-art automated cruising capabilities, industrial sources said. Baidu has not elaborated on when the vehicle will make its de…READ FULL ARTICLE
