Press Release

General Motors acquires a US$300 million stake in Momenta

General Motors announced that it will invest US$300 million in Momenta to accelerate the development of next-generation autonomous driving technology for future Chinese models.

Guided by the vision of “zero accidents, zero emissions, and zero congestion”, GM is establishing partnerships around the world to strengthen technical reserves to support the diverse needs of consumers in various markets and build a sustainable future.

In June of this year, General Motors announced that it would invest 35 billion U.S. dollars in electric vehicles and autonomous driving between 2020 and 2025. In China, GM is rapidly expanding its local design and engineering capabilities, relying on VIP electrification architecture and 5G services to greatly enhance its OTA software upgrade capabilities, and its first product based on the Ultium Auto electric vehicle platform will also be launched soon.

GM Executive Vice President and President of GM China Bai Li said, “China has the world’s fastest consumer group to adopt electrification and autonomous driving technology. The agreement with Momenta will support GM to accelerate the next generation of customized solutions for Chinese consumers. Plan and put it into application.”

Momenta CEO Cao Xudong said, “We are committed to creating a better life through breakthrough AI technology. Through cooperation with General Motors, we will jointly create industry-leading autonomous driving technology to provide safer, more convenient and more efficient Intelligent driving experience.”

With leading autonomous driving technology and solutions, Momenta’s vision is to save millions of lives in ten years, liberate 100% of the time in ten years, and double the efficiency of logistics travel in ten years.

Momenta’s data-driven “flywheel” technical insights and a “two-legged” product strategy that combines mass-produced autonomous driving and fully autonomous driving have created a unique and scalable path to fully autonomous driving.

Related Articles

Back to top button