Baidu robotaxis on the road in Beijing.
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Shares of Chinese technology company Baidu are at an all-time high and could climb further, a managing director at an investment bank said this week.
James Lee of Mizuho Securities said the company is well positioned to benefit from the expansion of China’s autonomous driving network. The country has ambitious plans to build transportation systems that support self-driving vehicles in 30 domestic markets, Lee told CNBC’s “Squawk Box Asia” on Tuesday.
The country wants sensors and cameras on the road and in cars to be connected by 5G networks, and will need an operating system to control the devices. That’s where Baidu comes into play.