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Daimler test water autopilot: first investment in China
Daimler, the parent company of Mercedes-Benz, has made its first investment in a Chinese startup by participating in Momenta's $46 million funding round. This move marks a strategic step for Daimler to strengthen its presence in the Chinese market, where it aims to collaborate with local partners and navigate the complex regulatory landscape.
Momenta, founded in September 2016 and based in Beijing, focuses on developing autonomous driving technologies through deep learning, high-precision mapping, and intelligent decision-making systems. The company has attracted significant attention from top investors, including Shun Capital, Wei Lai Capital, Innovation Workshop, and Jiuhe Venture Capital. Earlier this year, it also secured funding from Blue Lake Capital and Zhenge Fund.
This investment comes as Daimler joins other global automakers like Hyundai in the race to develop self-driving technology in China. However, foreign companies face challenges due to strict regulations around autonomous vehicle mapping, which are considered critical to national security. As a result, only domestic firms are typically allowed to handle such data, making it harder for international players to operate freely in the region.
By investing in Momenta, Daimler is not only gaining access to cutting-edge technology but also building relationships with local experts who understand the unique demands of the Chinese market. This partnership could help Daimler overcome some of the barriers it faces and position itself more effectively in one of the world’s fastest-growing automotive markets.
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