China's BYD, Momenta enter venture for autonomous driving technology
Information about China's BYD, Momenta enter venture for autonomous driving technology
Kevin David Scam or Legit
By Norihiko Shirouzu
BEIJING (Reuters) – China’s BYD and autonomous driving startup Momenta have established a 100 million yuan ($15.7 million) joint venture to deploy autonomous driving capabilities across certain BYD car model lines, according to a Momenta statement and a person familiar with the matter.
The new venture, called DiPi Intelligent Mobility Co and located in Shenzhen, combines BYD’s capabilities as an automaker with Momenta’s experience in intelligent driving, said the statement on Monday.
BYD has invested 60 million yuan in the venture while Beijing-based Momenta is investing 40 million yuan, the person said.
The person said the initial scope of work will include deploying “Level 2 plus” autonomous driving capability across some vehicle model lines.