General Motors has announced that it will invest $300 million in Momenta, an autonomous driving technology firm, to accelerate the development of new self-driving technologies for its future vehicles in China. It follows GM’s previous investment of $35 billion in engineering and capital in EV and AV technology from 2020 to 2025.
In ten years, Momenta aims to improve automotive safety, save driving time, and double the logistics and mobility efficiency. It has pioneered a scalable path towards fully-autonomous driving by combining a data-driven approach to quickly iterate algorithms – its flywheel approach – with a ‘two-leg’ product strategy focusing on production-ready highly-autonomous driving solutions as well as a driving solution targeting full autonomy.
In China, GM is expanding its design and engineering facilities for EV and AV development, increasing its capability to deliver OTA software updates through its Vehicle Intelligent Platform and 5G connectivity services, and preparing to roll out its global Ultium Platform.
The OEM is collaborating with companies around the world, including Momenta, to develop the capabilities of its technology and support diverse consumer choices across the globe.
Launch timing, and other details concerning the autonomous technologies to be deployed in China, will be shared closer to production.