- Autonomous vehicle startup Momenta has raised $500M in in a funding round that included Toyota (NYSE:TM), Chinese auto giant SAIC, Daimler AG, Bosch, and Tencent (]]TCEHY]],OTCPK:TCTZF)
- Momenta takes a "two-legged" approach to autonomous driving, working on both the semi-autonomous mass-production passenger vehicles and the Level 4 or fully driverless vehicles.
- The startup is currently testing vehicles in Beijing and Suzhou, China. Momenta has a research center in Stuttgart in Germany.
- The new funds will help Momenta expand its data collection and workforce.
- Last year, Toyota partnered with Momenta to develop a high definition mapping platform in China, which is a key feature for a self-driving vehicle's ability to locate itself.
- Related: Yesterday, SAIC announced an autonomous vehicle partnership with lidar sensor company Luminar Technologies.