Momenta
 | |
| Industry | Self-driving cars |
|---|---|
| Founded | September 2016 |
| Founders | Cao Xudong (CEO)[1] |
| Headquarters | , |
| Products | Deep learning software |
| Website | www |
Momenta Global Limited (shortened to Momenta) is a developer of intelligent driving technologies, based in Beijing[2] and Suzhou, China.[3]
History
[edit]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.[2]
In 2017, Mercedes-Benz Group invested in Momenta, which was the automaker's first-ever investment into a Chinese startup.[4][5]
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.[6] The investors included, in addition to those already mentioned, General Motors (GM), IDG Capital, GGV Capital, Blue Lake Capital, Shunwei Capital, and Cathay Capital.[7] 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.[6] By that time, Momenta struck partnerships with SAIC Motor, Toyota, auto parts supplier Bosch, Mercedes-Benz, Temasek, Yunfeng Capital, and Tencent.[8]
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.[9][10]
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.[10]
In 2023, General Motors China received approval to conduct road tests in Shanghai for its autonomous vehicles developed in collaboration with Momenta.[11]
In 2024, additional partnerships with Nvidia and Qualcomm followed.[12][13]
In August 2024, Audi and SAIC Motor announced a joint venture in which Momenta is contributing a system for autonomous driving.[14]
In September 2024, Momenta introduced its first end-to-end self-driving model intended for mass production.[1]
Products
[edit]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.[1][15][16]
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".[17]
References
[edit]- ^ a b c "Momenta unveils mass-produced autonomous driving model". China Daily. 2024-09-30. Retrieved 2024-10-16.
- ^ a b Pan Yue (2017-07-25). "NIO Capital Leads $46M Round In Autonomous Driving Technology Firm Momenta". China Money Network. Retrieved 2018-07-05.
- ^ "Momenta (Suzhou) Technology Co., Ltd". Dun & Bradstreet. Retrieved 2024-10-25.
- ^ Liza Lin (2017-07-24). "Daimler Gets a Foothold in China's Self-Driving Car Market". The Wall Street Journal. Retrieved 2024-10-17.
- ^ "Chinese self-driving start-up receives investment from Mercedes-Benz". China Daily. 2017-07-27. Retrieved 2024-10-17.
- ^ a b Aria Alamalhodaei (2021-09-23). "GM invests $300M in China's first self-driving car unicorn Momenta". TechCrunch. Retrieved 2024-10-17.
- ^ "Momenta Raises $200 Million in Self-Driving Cars Push". Bloomberg News. 2021-11-03. Retrieved 2024-10-16.
- ^ "Autonomous driving startup Momenta raises $500 million from SAIC, Toyota, others". Reuters. 2021-03-19. Retrieved 2024-10-16.
- ^ 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.
- ^ a b Norihiko Shirouzu (2021-12-27). "China's BYD, Momenta enter venture for autonomous driving technology". Euronews. Retrieved 2024-10-16.
- ^ "GM China to Launch Autonomous Vehicle Road Testing in Shanghai". Momenta. 2023-08-24. Retrieved 2024-10-17.
- ^ "Momenta Announces New Autonomous Driving Solution Powered by NVIDIA DRIVE Orin, Commercializing Urban NOA on Scale". Momenta. 2024-04-26. Retrieved 2024-10-16.
- ^ "Qualcomm, China's Momenta to build self-driving vehicle platforms for automakers". TechNode. 2024-04-24. Retrieved 2024-10-25.
- ^ "Audi will Autos in China ohne 4-Ringe-Logo verkaufen". Manager Magazin (in German). 2024-08-02. Retrieved 2024-10-16.
- ^ Li Fusheng (2020-07-06). "Momenta expects robotaxies to be profitable by 2024". China Daily. Retrieved 2024-10-17.
- ^ "Momenta Showcases Latest Generation of Front Camera Perception Product Using New TI Jacinto Processors". Business Wire. 2020-01-08. Retrieved 2024-10-17.
- ^ Rita Liao (2019-06-13). "How China's first autonomous driving unicorn Momenta hunts for data". TechCrunch. Retrieved 2024-10-17.