As 2021 draws to a close, self-driving vehicle developers continue to partner to bring their technologies to market. BYD Co. and Momenta today said they have established joint venture called “DiPi Intelligent Mobility Co.” to scale out autonomous driving capabilities.
BYD has invested 40 million yuan ($6.2 million U.S.), and Momenta has invested 60 million yuan ($9.4 million) in DiPi Intelligent Mobility. The Shenzhen, China-based venture will combine BYD's manufacturing experience and integration capabilities with Momenta's work on autonomous vehicles, said the companies.
DiPi Intelligent Mobility will develop SAE Level 2 semi-autonomous vehicles to start, according to Reuters. Such vehicles are self-driving but still require a human driver to be ready to take over at any time.
About BYD
Founded in 1995, BYD has automotive and electronics subsidiaries. The Shenzhen-based company has been developing electric vehicles and has a U.S. unit in Los Angeles.
BYD added that it plans to “accelerate the large-scale implementation of its passenger car intelligent driving products and work with more industry partners to create an intelligent driving ecosystem with BYD characteristics.”
It is working with All Nippon Airways Co. (ANA) and other companies on autonomous shuttlebuses.
About Momenta
Founded in 2016, Momenta said it has been developing the “brains” for smart vehicles. The Beijing-based startup recently completed $500 million in Series C+ financing, bringing its total valuation to more than $1.2 billion.
Momenta said its “flywheel” approach involves big data, machine learning, and mapping and path-planning algorithms. It added that its “two-leg” product strategy includes its Mpilot mass production-ready perception software and MSD (Momenta Self-Driving) system targeting full autonomy.
Last month, Chinese automotive manufacturer SAIC began testing robotaxis in Shanghai with Momenta's technology.
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