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GM invests $300 million in Chinese autonomous driving startup Momenta

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 and Daimler AG.

September 23, 2021 / 11:19 AM IST
No. 8 General Motors | Amount raised - $15.8 billion | Date of IPO – November 2010. (Image: Reuters)

No. 8 General Motors | Amount raised - $15.8 billion | Date of IPO – November 2010. (Image: Reuters)

U.S. automaker General Motors Co 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 and Daimler AG.
Reuters
first published: Sep 23, 2021 11:19 am
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