© general motors Electronics Production | September 24, 2021
GM Invests $300 Million in self-driving technology company
General Motors says it will invest USD 300 million in autonomous driving technology company, Momenta, to accelerate the development of next-generation self-driving technologies for future GM vehicles in China.
“Customers in China are embracing electrification and advanced self-driving technology faster than anywhere else in the world, and the agreement between GM and Momenta will accelerate our deployment of next-generation solutions tailor-made for our consumers in China,” says Julian Blissett, executive vice president of General Motors and president of GM China, in a press release. “Momenta is committed to developing breakthrough artificial intelligence solutions to push beyond the frontier of possibilities today and significantly improve personal mobility experiences. Together with GM, we will jointly invest in autonomous vehicle technologies to enhance driving safety, convenience and efficiency,” adds Xudong Cao, CEO of Momenta. In June, GM announced it is investing USD 35 billion in engineering and capital in EV and AV technology from 2020 to 2025. In China, GM is expanding its design and engineering facilities for EV and AV development, dramatically increasing its capability to deliver over-the-air software updates via GM’s Vehicle Intelligent Platform and 5G connectivity services, and preparing to roll out the company’s global Ultium Platform.