GM invests $300 million in Chinese autonomous driving startup Momenta By Reuters
© Reuters. FILE PHOTO: The company logo of Chinese autonomous driving startup Momenta is seen on the facade of its office building in Beijing, China March 13, 2020. Picture taken March 13, 2020. REUTERS/Yilei Sun
BEIJING (Reuters) – U.S. automaker General Motors Co (NYSE:) said on Thursday that it would 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, which holds a permit for gathering high-definition maps in China, is also backed by Toyota Motor (NYSE:) and Daimler AG (DE:).
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