JPMorgan Chase: Carrot Run is expected to break even for individual cities in the second half of 2024

Golden Ten Data reported on July 13 that Baidu’s driverless travel platform Radish Express has recently attracted much attention, driving Baidu’s Hong Kong stocks to rise by more than 12% on the 10th, which is the highest point in the past month or so. But JPMorgan Chase & Co. believes that Baidu’s self-driving taxi market is premature and fundamentally sound, and its share price rally may weaken in the short term. Analysts at JPMorgan Chase & Co. further pointed out that if Carrot Express can improve profitability, it is expected to achieve breakeven in a single city in the second half of 2024, but the impact on the group’s finances will remain small, and when its business reaches a larger scale, which could be as early as the second half of 2025.