China pauses new autonomous vehicle licenses after Baidu robotaxis stranded
Technology
China has hit pause on issuing new licenses for autonomous vehicles after a major glitch left more than 100 of Baidu's Apollo Go robotaxis stranded in Wuhan, causing traffic jams.
The government is now working with local officials to tighten safety rules for self-driving projects.
Baidu stock drops 3.9%
This regulatory timeout is slowing down plans for companies like Baidu, Pony AI, and WeRide. Baidu's stock even dropped 3.9% in Hong Kong.
Despite the bump in the road, experts still expect China's self-driving market to grow big, reaching about $12.2 billion by 2030.
Meanwhile, Baidu's Wuhan operations are under investigation, but other companies say their services are running smoothly elsewhere.