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

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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.

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