China’s popular and leading automobile company BYD has joined hands with Momenta to develop autonomous driving technology, news agency Reuters reported, citing a person with knowledge of the matter. This joint venture will be called DiPi Intelligent Mobility and is based in Shenzhen.
The agency has been informed by the person associated with the matter that BYD has invested CNY 60 million (about Rs 70 crore) in this joint venture, while Beijing-based Momenta has invested CNY 40 million (about Rs 50 crore) in it. .
The person said that “Level 2 Plus” autonomous driving capabilities will be added to some models in the initial scope of work. Level 2 semi-autonomous cars have technology that can take care of almost all aspects of driving, from steering to acceleration and braking, but still let the driver take control when needed.
Many companies in China are now rapidly working on autonomous driving technology. Earlier this month, SAIC Mobility launched an autonomous robotics test ride in Shanghai as a trial run in partnership with Momenta.
Not only this, last month Chinese search engine giant Baidu and self-driving startup Pony.ai got approval to launch a paid driverless robotic taxi service in the Chinese capital Beijing.