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Chinese autonomous driving company
Momenta Global Ltd.
IndustrySelf-driving cars
FoundedSeptember 2016; 8 years ago (2016-09)
FoundersCao Xudong (CEO)
HeadquartersBeijing and Suzhou, China
ProductsDeep learning software
Websitewww.momenta.ai

Momenta Global Limited (shortened to Momenta) is a developer of intelligent driving technologies, based in Beijing and Suzhou, China.

History

Momenta was founded in September 2016 led by Cao Xudong, a former scientist at Microsoft Research and formerly executive director of research and development at Chinese deep-learning and computer vision company SenseTime.

In 2017, Mercedes-Benz Group invested in Momenta, which was the automaker's first-ever investment into a Chinese startup.

Momenta became the first Chinese unicorn in the field of self-driving cars after investors valued the company at more than $1 billion in 2021. The investors included, in addition to those already mentioned, General Motors (GM), IDG Capital, GGV Capital, Blue Lake Capital, Shunwei Capital, and Cathay Capital. General Motors invested $300 million in Momenta, as was announced in 2021, with the aim to accelerate the development of self-driving cars in China. By that time, Momenta struck partnerships with SAIC Motor, Toyota, auto parts supplier Bosch, Mercedes-Benz, Temasek, Yunfeng Capital, and Tencent.

Since 2021, SAIC Motors and Momenta have worked together on robotaxi operations in Shanghai and Suzhou. In addition, Momenta is also supplying autonomous driving technology to SAIC's IM.

In December 2021, Momenta and BYD established a joint venture, called DiPi Intelligent Mobility Co, located in Shenzhen, to deploy autonomous driving capabilities across certain BYD car model lines.

In 2023, General Motors China received approval to conduct road tests in Shanghai for its autonomous vehicles developed in collaboration with Momenta.

In 2024, additional partnerships with Nvidia and Qualcomm followed.

In August 2024, Audi and SAIC Motor announced a joint venture in which Momenta is contributing a system for autonomous driving.

In September 2024, Momenta introduced its first end-to-end self-driving model intended for mass production.

Products

Momenta does not build cars itself, but sells their car software to automakers. The company works on deep learning capacities, the so-called "brains", of cars. Momenta's software is fed with large amounts of data which are needed in particular for the development of self-driving cars, so that they can achieve end-to-end intelligent driving.

According to Rita Liao in TechCrunch, the company has a "two-legged approach of selling semi-automated software while investing in research for next-gen self-driving tech".

References

  1. ^ "Momenta unveils mass-produced autonomous driving model". China Daily. 2024-09-30. Retrieved 2024-10-16.
  2. ^ Pan Yue (2017-07-25). "NIO Capital Leads $46M Round In Autonomous Driving Technology Firm Momenta". China Money Network. Retrieved 2018-07-05.
  3. "Momenta (Suzhou) Technology Co., Ltd". Dun & Bradstreet. Retrieved 2024-10-25.
  4. Liza Lin (2017-07-24). "Daimler Gets a Foothold in China's Self-Driving Car Market". The Wall Street Journal. Retrieved 2024-10-17.
  5. "Chinese self-driving start-up receives investment from Mercedes-Benz". China Daily. 2017-07-27. Retrieved 2024-10-17.
  6. ^ Aria Alamalhodaei (2021-09-23). "GM invests $300M in China's first self-driving car unicorn Momenta". TechCrunch. Retrieved 2024-10-17.
  7. "Momenta Raises $200 Million in Self-Driving Cars Push". Bloomberg News. 2021-11-03. Retrieved 2024-10-16.
  8. "Autonomous driving startup Momenta raises $500 million from SAIC, Toyota, others". Reuters. 2021-03-19. Retrieved 2024-10-16.
  9. Jaclyn Trop (2022-06-14). "A.I. robotaxis already running in China could be coming soon to the U.S." Fortune. Retrieved 2020-10-16.
  10. ^ Norihiko Shirouzu (2021-12-27). "China's BYD, Momenta enter venture for autonomous driving technology". Euronews. Retrieved 2024-10-16.
  11. "GM China to Launch Autonomous Vehicle Road Testing in Shanghai". Momenta. 2023-08-24. Retrieved 2024-10-17.
  12. "Momenta Announces New Autonomous Driving Solution Powered by NVIDIA DRIVE Orin, Commercializing Urban NOA on Scale". Momenta. 2024-04-26. Retrieved 2024-10-16.
  13. "Qualcomm, China's Momenta to build self-driving vehicle platforms for automakers". TechNode. 2024-04-24. Retrieved 2024-10-25.
  14. "Audi will Autos in China ohne 4-Ringe-Logo verkaufen". Manager Magazin (in German). 2024-08-02. Retrieved 2024-10-16.
  15. Li Fusheng (2020-07-06). "Momenta expects robotaxies to be profitable by 2024". China Daily. Retrieved 2024-10-17.
  16. "Momenta Showcases Latest Generation of Front Camera Perception Product Using New TI Jacinto Processors". Business Wire. 2020-01-08. Retrieved 2024-10-17.
  17. Rita Liao (2019-06-13). "How China's first autonomous driving unicorn Momenta hunts for data". TechCrunch. Retrieved 2024-10-17.

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