Chinese autonomous technology unicorn Momenta has set up a team that will develop Level 4 autonomous robots to increase its valuation for a possible public listing, according to sources who spoke with Xinliu Car without providing further details. Shujubang, a market intelligence firm, reported in January that Momenta, which is already backed by major automakers such as Toyota, General Motors, and Mercedes-Benz in China, has captured more than 60% market share of the City NOA segment (navigation with ADAS — advanced driving-assistance system). China’s securities regulator announced in June last year that it had approved Momenta Global Limited’s initial public offering in the United States. The company planned to list either on the Nasdaq Stock Exchange or the New York Stock Exchange. Cao Xudong, the company’s chief executive and co-founder, said in April that it has signed contracts with more than 130 car manufacturers to supply their assisted driving technologies.[TechNodereportingXinliu Car, in Chinese]
