Stock Track | Baidu Plummets 5.43% Intraday as Apollo Go Adjusts Middle East Operations Amid US-Iran Conflict

Stock Track03-03

Baidu's stock price plummeted 5.43% during intraday trading on Tuesday, reflecting investor concerns over the company's autonomous driving business operations in the Middle East.

The decline comes after reports that Baidu's Apollo Go autonomous driving unit has temporarily halted its self-driving vehicle testing across the United Arab Emirates due to the ongoing conflict between the US, Israel, and Iran. While Apollo Go's commercial service continues normal operations in Abu Dhabi, the suspension of testing activities in the region has raised concerns about potential disruptions to Baidu's autonomous driving expansion plans.

A Baidu spokesperson stated that the company is "closely monitoring the evolving situation" in the Middle East and is in "close coordination with local regulators" to adjust operations as needed. The geopolitical tensions have prompted several autonomous vehicle companies, including WeRide and Pony AI, to similarly adjust their Middle East operations, creating broader industry headwinds.

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