(Yicai) Aug. 10 -- Chinese automaker Geely Holding Group and technology titan Baidu set up an automotive joint venture yesterday.

Geely unit Zhejiang Geely Industrial Investment Holding and Baidu unit Shanghai Mihang Automobile are the JV partners in Hangzhou Jiyuyue Automobile Technology, according to corporate data platform Tianyancha.

With a registered capital of CNY10 million (USD1.4 million), the new company’s business covers new energy vehicle sales, vehicle sales, electric vehicle charging infrastructure operation, and battery sales.

Zhang Quan, chief financial officer of Hangzhou-based Geely, is its legal representative and executive director. Xia Yiping, chief executive officer of Jidu Automobile, a subsidiary of Baidu, is the general manager.

The size of the stakes held by Geely and Baidu in Jiyuyue Automobile are not known. Beijing-based Baidu has not yet responded to a request for comment.

Editor: Peter Thomas