GM invests in Chinese autonomous driving startup Momenta

BEIJING, Sept 23 (Reuters) – Normal Motors Co stated on Thursday it’s going to make investments $300 million in Chinese language autonomous driving startup Momenta to develop self-driving applied sciences for future fashions in China, its first such tie-up on the planet’s largest automobile market.

Momenta is among the many few corporations that maintain a allow for gathering high-definition maps in China, a key instrument in autonomous driving applied sciences. It’s working with automakers to develop mass-production autos with self-driving features to assemble real-time knowledge.

The corporate can be backed by SAIC Motor , GM’s primary Chinese language associate, in addition to Toyota Motor and Daimler AG .

“Clients in China are embracing electrification and superior self-driving expertise quicker than anyplace else on the planet, and the settlement between GM and Momenta will speed up our deployment of next-generation options tailored for our customers in China,” stated Julian Blissett, GM’s China chief.

The U.S. automaker stated in June it could spend $35 billion by way of 2025 on electrical autos and autonomous driving applied sciences globally. Earlier this month, its enterprise capital arm invested in Oculii, a U.S. maker of software program for radar sensors utilized in self-driving vehicles.

Automakers and expertise corporations are investing billions of {dollars} in autonomous driving, aiming to take an early lead in what many contemplate the way forward for mobility.

Different international automakers have tie-ups with Chinese language corporations within the nascent expertise. Toyota is testing autos with Pony.ai, Nissan Motor works with WeRide, whereas Honda has teamed up with AutoX.

Reporting by Yilei Solar and Brenda Goh; Enhancing by Stephen Coates

: