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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 Daimler’s growing interest in collaborating with local Chinese companies to strengthen its presence in the competitive Chinese market, especially in the field of autonomous driving.
Momenta, founded in September 2016 and based in Beijing, focuses on developing advanced driver-assistance systems using deep learning, high-precision mapping, and intelligent decision-making technologies. The B-round funding was led by Wei Lai Capital, with additional support from Daimler, Shun Capital, Innovation Workshop, and Jiuhe Venture Capital. The company also secured earlier investments from Blue Lake Capital, Innovation Workshop, and Zhenge Fund, showing consistent investor confidence in its technology and vision.
This investment comes as Daimler joins other global automakers like Hyundai Motor in pursuing opportunities in China’s rapidly evolving autonomous vehicle industry. However, foreign automakers still face challenges in the region due to strict regulations around autonomous driving. In China, the use of high-precision maps is considered a matter of national security, which limits access to foreign companies. Additionally, foreign firms often struggle with road testing due to complex regulatory environments.
By investing in Momenta, Daimler is not only tapping into a promising tech startup but also gaining valuable insights into the Chinese market and its unique requirements. This strategic move could help Daimler better position itself for future growth in one of the world’s largest automotive markets.
Stay tuned for more updates on the latest developments in car electronics and autonomous technology. We’ll keep you informed with detailed and up-to-date information.