BEIJING : China's BYD and autonomous driving startup Momenta have established a 100 million yuan 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.
BYD has invested 60 million yuan in the venture while Beijing-based Momenta is investing 40 million yuan, the person said. 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.
Automakers and technology firms are investing billions of dollars in autonomous driving, aiming to take an early lead in what many consider the future of mobility.
Source: Tech Daily Report (techdailyreport.net)
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