Mercedes to use Momenta software in 4 models, accelerate China comeback, sources say
Mercedes-Benz is betting on China's Momenta to help it win back market share in the world's biggest auto market, with plans for fresh investment and at least four future models to use the autonomous driving startup's software, three sources with knowledge of the matter said.
The plans, which have not been previously reported, will make autonomous-driving developer Momenta the first Chinese supplier picked by Mercedes to be a primary provider of a key technology and selling point for its products, as intense competition and technological innovation in China force Western automakers to rethink their supply-chain strategies.
The German premium automaker has since 2017 had an investment in Momenta but the two companies have yet to publicly announce jointly developed products.
In the years since, the Chinese firm has emerged as one of China's leading suppliers of advanced driving assisted system (ADAS) features similar to Tesla's full self driving that can navigate urban traffic with human drivers' supervision.
Mercedes intends to make a fresh $75-million investment in Momenta and may invest more as a cornerstone investor in Momenta's initial public offering scheduled in the first quarter of 2025, the sources said.
Artificial Intelligence(AI)
ChatGPT Mastery from Zero to Hero: The Complete AI Course
By — Metla Sudha Sekhar, IT Specialist and Developer
Web Development
A Comprehensive ASP.NET Core MVC 6 Project Guide for 2024
By — Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
AI for Everyone:
