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GM Invests In Chinese Autonomous Driving Startup Momenta

Momenta is among the few companies that hold a permit to gather high-definition maps in China, a key tool for autonomous driving tech. Toyota, Daimler and SAIC have also invested in the startup

General Motors is the latest car giant to invest in Momenta and its autonomous driving technology. Momenta website image.

 

US automaker General Motors said on Thursday it will invest $300 million in Chinese autonomous driving startup Momenta, to develop self-driving technologies for future models in China.

In China, the world’s biggest car market, GM is making vehicles with SAIC Motor, which has also invested in Momenta. Momenta is also backed by Toyota Motor and Daimler AG.

This is the first autonomous driving partnership that the top US automaker has made in China, where it sold roughly three million vehicles last year.

GM is also developing autonomous driving technologies through its subsidiary Cruise. It also has Super Cruise driver assistance technology. Earlier this month, its venture capital arm invested in Oculii, a US startup maker of software for radar sensors used in self-driving cars.

Four-year-old Momenta is among the few companies that hold a permit for gathering high-definition maps in China, a key tool in autonomous driving technologies.

 

• Reuters with additional editing by Jim Pollard

 

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Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years and has a family in Bangkok.

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