China's Baidu to team up with Geely on EVs

China's leading Internet search company Baidu says it's teaming up with a major domestic automaker to build electric vehicles.

Baidu said on Monday that it's setting up a subsidiary with Geely Holding Group. The new company will make and sell electric cars.

Baidu will provide the technology for self-driving, while Geely will likely handle production.

Baidu has not provided further details, such as when the subsidiary plans to start selling its vehicles.

Baidu has been developing self-driving technology with the support of the Chinese government.

The tie-up with Geely comes as a growing number of Chinese tech firms join with automakers to develop electric cars.

China is the world's biggest auto market, with more than 25 million units sold each year. Demand for electric cars is rising fast, with annual sales of about a million units.