General Motors invests 300 million dollars in Momenta to accelerate the development of the next generation of autonomous driving technology for Chinese vehicles.

In June of this year, General Motors announced that it would invest 35 billion dollars in the electric vehicle and autonomous driving fields between 2020 and 2025. Currently, GM has acquired Cruise to lay out its autonomous driving technology in the United States, but Cruise mainly focuses on L4 Robotaxi, and the production of the unmanned driving shuttle buses could start as early as 2023.

Considering that GM’s current reserve of autonomous driving technology for mass-produced vehicles is not as ample as that of the top players, investing in Momenta would be a good choice.

During Momenta’s C round financing in March of this year, it received a 500 million dollar investment from investors such as SAIC, Toyota, Bosch, Temasek, and Yunfeng Fund.

It is worth mentioning that after leading Momenta’s C round financing in March and becoming its largest institutional investor, SAIC announced on September 15th that it would make additional investments in Momenta, but the specific amount is unknown.

This is the previous report from the garage: Momenta C Round Financing of 500 Million Dollars, Accelerating the Landing of Autonomous Driving Technology, SmartVehicle Will Have Momenta Smart Driving Technology Solution.

In just a short six months, Momenta has received over 800 million dollars in investment, including from OEMs and Tier 1 suppliers.

The first vehicle equipped with Momenta’s assisted/autonomous driving solution will be SAIC’s L7 model, which will be delivered in small quantities as early as the fourth quarter of this year.

🔗Sources: GM; SAIC Group

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.