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Chinese autonomous driving tech startup Momenta receives $46 million series B financing

BEIJING – Chinese autonomous driving tech startup Momenta announced on July 25 that it has received $46 million in series B financing led by NIO Capital, as well as follow-up investments from Daimler, Shunwei, Sinovation Ventures and Unity Ventures. In November 2016, Momenta received $5 million in series A financing

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Intelligent vehicle and self-driving tech key component of China’s new AI development plan

BEIJING – China wants to become a global innovation center in artificial intelligence (AI) by 2030, and intelligent vehicles and autonomous driving technologies will be a key component of that ambition, according to a new guideline on AI development issued by the State Council on July 20. The New Generation

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MAS@Shanghai 0713 recap: incentive policy “stole” 2.5-3 million vehicles from 2017

SHANGHAI – The incentive policy “stole” 2.5-3 million units in passenger vehicle sales from 2017, worth about one month of sales, into 2016, according to John Zeng, director of Asia Pacific Forecasting at LMC Automotive, citing passenger vehicle registration data. Zeng shared the interesting observation at CBU/CAR’s Monthly Automotive Salon

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