BYD and Momenta have established a joint venture for Shenzhen Desay Smart Technology Co., Ltd, with a registered capital of 100 million yuan, in which BYD holds a 60% stake and Momenta holds a 40% stake.
Its legal representative is Yang Dongsheng, who has previously served as a supervisory board member of BYD Co., Ltd., vice president of BYD Co., Ltd., dean of product planning and automotive technology research institute, and chief DM design engineer. The company’s business scope includes IoT application services, AI public data platforms, AI basic resources and technology platforms, etc.
Previously, Momenta has established joint ventures with other automakers.
On November 12, Momenta’s subsidiary, Chusudu Technology, also established a joint venture with Geely Holding’s Lotus brand to establish Ningbo Lotus Robotics Co., Ltd. According to business information, the registered capital of the new company is 100 million yuan. This will become a supplier of Lotus’ autonomous driving solutions.
Since there is an output, there must be an input. In March this year, Momenta’s Series C financing received a $500 million investment from funders such as SAIC, Toyota, Bosch, Temasek, and Yunfeng Fund. In September of this year, General Motors also invested $300 million in Momenta and stated that they will also use Momenta’s ADAS solution. In just six months, Momenta has raised over 800 million US dollars in investment.
Perhaps Momenta’s participation will fill BYD’s gap in the field of ADAS. Previously, we have seen real-life scenarios of IM using ADAS in urban areas in Suzhou implementing Momenta’s solution.
Perhaps in the future, more and more car companies will adopt joint ventures with autonomous driving solutions companies to address the issues of vehicle assisted driving software and hardware.
🔗 Information source: QCC
This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.