Big spend on driverless cars

About 10 billion yuan (NZ$2 billion) will be spent on new self-drive car projects over the next three years by Chinese internet company Baidu, one of the world’s artificial intelligence leaders.

It’s an attempt to catch up with US rivals by enlisting outside help, the BBC News reports.

The launch of Baidu’s Apollo Fund coincides with the release of Apollo 1.5, the latest version of its open-source autonomous vehicle software.

Baidu expects its autonomous cars will be ready by 2020.

However, it could face challenges from regulators, previously stopping the company from testing on highways.
Baidu made its technology available to third parties earlier this year and says it now has 70 partners across several fields, up from 50 in July.

Competition in the autonomous vehicle market is high, particularly in Silicon Valley where 40 companies have registered with the California Department of Motor Vehicles for testing licences.