GM acquires stake in Momenta
General Motors will acquire a $300-million stake in Momenta, a Chinese autonomous-driving specialist. The investment is part of GM’s wider commitment to invest $35 billion in EVs and autonomous driving by 2025.
The deal with Momenta signals GM’s interest in the Chinese market, where the U.S. automaker is growing its local design and engineering capabilities, and where it will soon launch its first vehicle based on the Ultium Auto EV platform, made in China.
However, the Momenta deal is just one of GM’s many partnerships around the world, aimed at achieving its vision of “zero accidents, zero emissions and zero congestion.”
Momenta’s drive to use AI technology to create a breakthrough in autonomous driving has its own lofty targets: within ten years, it wants to save millions of lives, free 100% of drivers’ time, and double the efficiency of logistics.