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GM invests $300 million in Chinese autonomous driving startup Momenta By Reuters

by Mike Robinson

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© Reuters. FILEPHOTO: Momenta, a Chinese autonomous driving company, is visible on its Beijing office building facade. It was installed in March 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.

GM makes cars in China with SAIC Motor. Momenta is also backed by Daimler AG (DE:) and Toyota Motor (NYSE:). 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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