The company recently signed an agreement with BAIC Group, a Chinese state-owned enterprise and holding company of several automobile and machine manufacturers located in Beijing, to mass produce level 4 autonomous vehicles by 2021. It is also targeting mass production of autonomous buses with King Long by 2018. [see_also_flex pos='left' post_id='160567′] In September, Baidu also announced a CNY10 billion (US$1.52 billion) investment package in the "Apollo Fund" which will drive autonomous car projects over the next three years. The company will hold its annual "Baidu World" Technology Conference at the China World Summit Wing and Kerry Hotel in Beijing on Nov 16, where it will discuss the company's mission and strategy, technology breakthroughs, new product developments, and Baidu's open artificial intelligence (AI) ecosystem.