General Motors (GM) today announced it is investing $ 300 million in a young Chinese company called Momenta, which develops self-driving technology. This is the first such move by GM in the world’s largest automotive market.
Momenta is one of the few companies in China authorized to collect data for high-resolution maps, a key tool in self-driving technology. It has partnered with automakers to develop production vehicles with self-driving and real-time data collection capabilities.
Momenta is also backed by SAIC Motor, GM’s main Chinese partner, and Toyota Motor and Daimler AG.
Automakers and tech companies are investing billions of dollars in self-driving technology that is considered the future of the industry.
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
