Momenta news – Gasgoo
Beijing (Gasgoo) – BYD, China’s leading manufacturer of new energy vehicles, has officially announced its new joint venture with China’s leading autonomous driving company, Momenta, dedicated to the field of intelligent driving.
Photo credit: Momenta
The new company, Shenzhen Dipai Zhixing Technology Co., Ltd., was registered on November 26, 2021, with registered capital of RMB 100 million, according to the Chinese company database, Qichacha.
BYD Auto Industry Company Limited owns 60% of the company’s stake, while Momenta owns the remaining 40%. Dipai Zhixing’s legal representative is Yang Dongsheng, vice president of BYD and dean of its automotive technology research institute.
The company is licensed to operate in various fields, such as IoT application service, artificial intelligence data platform, algorithm, intelligent robot development and quantum computing.
The automaker revealed that with BYD’s smart technologies and vertical integration capabilities, adding Momenta’s smart driving experience and technologies, the joint venture is well positioned to develop advanced smart driving solutions that aim for the future.
In fact, this was not the first time that an automaker has co-created joint ventures with Momenta. On November 12, Geely entered into cooperation with the developer of autonomous driving through its Lotus Cars subsidiary, Wuhan Lotus E-commerce Co., Ltd.
The joint venture, Ningbo Lotus Robotics Co., Ltd., has a registered capital of 100 million RMB, with Geely owning 60% stake in the company while Momenta owns the remainder 40%.
Notably, Lotus Robotics has the same distribution of share capital and equity as Dipai Zhixing.