China's BYD, Momenta enter venture for autonomous driving technology

#artificialintelligence 

BEIJING, Dec 27 (Reuters) - China's BYD (002594.SZ) 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. Level 2 semi-autonomous cars have technology that can take care of nearly all aspects of driving, from steering to acceleration and braking, but the driver needs to be ready to intervene if needed.

Duplicate Docs Excel Report

Title
None found

Similar Docs  Excel Report  more

TitleSimilaritySource
None found