On November 5, SAIC Motor's board approved a proposal to establish a smart-driving joint venture with Momenta and Yandian Technology, with registered capital of 300 million yuan to strengthen high-level intelligent-driving R&D.
Under the plan, Momenta would subscribe 153 million yuan for a 51% stake, SAIC 75 million yuan for 25%, and Yandian 72 million yuan for 24%. The tie-up pools a leading autonomous-driving algorithm company, a major automaker and a hardware partner, reflecting the industry's shift toward dedicated entities for advanced driver-assistance and intelligent-driving system development.
