GM Invests $300M In China's Self Driving Startup

by Anusuya Lahiri, Benzinga Editor
September 23, 2021 10:58 AM | 1 min read |
  • General Motors Co GM would invest $300 million in Chinese autonomous driving startup Momenta to develop self-driving technologies for China's future models, 
  • The Toyota Motor Corp TM backed startup holds a permit for gathering high-definition maps in China, a vital tool in autonomous driving technologies, Reuters reports.
  • Momenta is working with automakers to develop mass-production vehicles with self-driving functions to gather real-time data.
  • GM partner SAIC Motor and Daimler AG DMLRY DDAIF also back Momenta.
  • Earlier this year, GM announced spending $35 billion through 2025 on electric vehicles and autonomous driving technologies globally.
  • Price Action: GM shares traded higher by 1.67% at $51.62 on the last check Thursday.
Market News and Data brought to you by Benzinga APIs

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Comments
Posted In: NewsContractsTechBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!