BYD and autonomous driving startup Momenta have formed a 100 million yuan joint venture to create autonomous driving capabilities in certain BYD electric car models. This was confirmed by the Momenta press statement that was released recently as reported by Reuters.
The joint venture is called DiPi Intelligent Mobility Co and is located in Shenzhen, combining BYD's capabilities as an electric car maker with Momenta's experience in developing autonomous driving.
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In the partnership BYD invested 60 million yuan, while Beijing-based Momenta invested 40 million yuan.
The collaboration includes the development of “Level 2 plus” autonomous driving capabilities in several vehicle model lines from BYD production.
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Level 2 semi-autonomous cars are capable of handling almost all aspects of driving, from steering to acceleration and braking. In Level 2 semi-autonomous Cars, however, the driver must be prepared to intervene if necessary. Asked about the collaboration, a BYD spokesperson referred to Momenta's press release.
Previously BYD and Daimler Agree to restructure their stake in DENZA. Under the agreement Daimler will hold a 10 percent equity stake while BYD will hold the remaining 90 percent stake.