The American automotive multinational corporation GM has announced that it will invest $300 million in Chinese startup Momenta to develop next generation self driving technologies for future GM vehicles in china.
The executive vice president of General Motors and president of GM China, Julian Blissett, said:
“Customers in China are embracing electrification and advanced self-driving technology faster than anywhere else in the world, and the agreement between GM and Momenta will accelerate our deployment of next-generation solutions tailor-made for our consumers in China.”
The Chief Executive Officer of Momenta, said Xudong Cao, said:
“Momenta is committed to developing breakthrough artificial intelligence solutions to push beyond the frontier of possibilities today and significantly improve personal mobility experiences. Together with GM, we will jointly invest in autonomous vehicle technologies to enhance driving safety, convenience and efficiency.”
The automobile company is clubbing with Momenta to build its technology capabilities and support diverse consumer choices across the world, in next ten years Momenta is planning to double the logistics and mobility efficiency with its autonomous driving technology and solutions.
Momenta has pioneered a unique scalable path toward full autonomous driving by combining a data-driven approach to quickly iterate algorithms – its flywheel approach – as well as a “two-leg” product strategy focusing on both mass-production-ready highly autonomous driving solutions and a driving solution targeting full autonomy.
