According to Reuters, three people familiar with the matter revealed that German luxury carmaker Mercedes-Benz is betting on China’s autonomous driving startup Momenta and plans to make new investments to help Mercedes-Benz win back market share in the world’s largest auto market, China.
It is reported that at least four Mercedes-Benz models will be equipped with Momenta software in the future.
Image source: Momenta, Sources said Mercedes-Benz plans to make a new investment of $75 million in Momenta and may make more investments as a cornerstone investor in Momenta’s “planned initial public offering (IPO) in the first quarter of 2025.
” According to people familiar with the matter, Mercedes-Benz will launch four models in China from 2025 to 2027, all of which will be equipped with Momenta’s Advanced Driver Assistance System (ADAS) software.
Currently, Mercedes-Benz is discussing internally whether to implement Momenta software on more models for the China market after 2027.
According to people familiar with the matter, Mercedes-Benz is still working with Momenta to formulate preliminary plans to incorporate Momenta’s technology on Mercedes-Benz models outside the China market.
The above plan will make Momenta the first China supplier selected by Mercedes-Benz as the main provider of key technologies and selling points for its products.
Mercedes-Benz has been investing in Momenta since 2017, but the two companies have not yet disclosed the products they jointly developed.
, Mercedes-Benz and Momenta declined to comment on the above reports.
, Currently, Momenta has become one of the leading ADAS suppliers in China, and its customers in China include BYD, SAIC Motor and Audi.
And Momenta’s largest automaker investor is SAIC Motor Corporation, and other investors include General Motors and Toyota Motor.
, China’s automakers are currently in a race to develop autonomous driving technology.
BYD has hired thousands of engineers to speed up the independent development of autonomous driving software.
NIO Automobile, Xiaopeng Automobile and Xiaomi are also independently developing ADAS chips to achieve better intelligent driving performance on electric vehicles.
Mercedes-Benz is also trying to catch up with China’s electric vehicles and smart driving software.
This has also helped China ADAS suppliers Momenta, Huawei and DeepRoute.
ai quickly accumulate automaker customers.
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