General Motors has now joined a host of other major automakers, including Chinese state-backed Toyota, SAIC Motor, and Mercedes-Benz AG, in putting its strengths to work for Chinese self-driving startup Momenta.
GM, the largest US automaker in terms of vehicle sales, said on Tuesday it would invest $ 300 million in Momenta to accelerate the development of AV technology for future GM vehicles in China. Julian Blissett, executive vice president of GM and chairman of GMChina, said in a statement that the investment will help the automaker deliver tailor-made solutions for [GMs] consumers in China.
The news comes less than six months after Momenta closed a nearly $ 500 million funding round, which included SAIC, Toyota, Mercedes-Benz AG and Bosch. As TechCrunchs Rita Liao notes, mega fundraising has become mainstream in the world of capital-intensive autonomous vehicles. But it looks like the startup is getting closer to commercialization as it aims to mass-produce cars equipped with its software by the end of this year.
This is just GM’s latest aggressive investment in next-generation technology, which in June said it had allocated $ 35 billion to electrical and audiovisual companies through 2025. Here in the United States, the GM’s interest in autonomous technology is best known through its autonomous driving. subsidiary, Cruise, which recently used a $ 5 billion line of credit from the automakers’ finance company.
But GM has also established a solid series of partnerships in China, as it seeks to establish a solid foothold in the world’s largest electric vehicle market. The country’s best-selling electric vehicle, a small city car called the Wuling Mini EV, is made by SAIC-GM-Wuling – as the name suggests, a joint venture between GM, SAIC and Wuling Motors. SAIC-GM-Wuling also manufactures the popular Baojun brand.
Chinese municipal governments have also taken a particularly progressive stance towards autonomous driving, noted Chinese AV startup executives at TC Mobility in June.
In China, every local government has an incentive to really act like entrepreneurs like us, Huan Sun, Managing Director Europe of Momenta, said at the event. They are very progressive in the development of the local economy. What we believe is that autonomous driving technology can greatly improve and upgrade the [local governments] economic structure.
While GM declined to say when drivers would see Momenta technology in its Chinese vehicles, a spokesperson for the automaker confirmed the partnership between the two companies would not extend to GM vehicles made and sold in the United States. .
The mention sources can contact us to remove/changing this article
What Are The Main Benefits Of Comparing Car Insurance Quotes Online
LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos
to request, modification Contact us at Here or [email protected]