Momenta, an industry-leading autonomous driving company, will further boost the rapid breakthrough and mass production of 's smart driving technology, said BYD.

(Image credit: BYD)

A month ago, we reported that BYD had formed a joint venture with autonomous driving unicorn Momenta. Now, The largest new energy vehicle (NEV) maker in China has officially announced the information.

BYD announced today on Weibo that it and Momenta inaugurated the joint venture, Shenzhen Dipai Zhixing Technology Co.

The move officially kicked off the long-term joint development of high-level intelligent driving technology, BYD said.

Momenta as the industry's leading autonomous driving company, will further boost BYD's rapid breakthrough and mass production in the field of intelligent driving, BYD's announcement said.

Dipai will rely on BYD's intelligent technology accumulation and vertical integration capabilities, as well as Momenta's technology accumulation in intelligent driving, and is committed to creating future-oriented, high-grade intelligent driving solutions, BYD said.

As a leader in the NEV and intelligent network connection industries, BYD will work together with Momenta to meet consumers' aspirations for better mobility through technological innovation, it said.

BYD will put safety first and accelerate the scale-up of BYD's passenger vehicle smart driving products with the intention of assisting, accompanying and rescuing, the company said.

BYD did not provide more details about the joint venture, but information from data provider Tianyancha showed that the company was established in Shenzhen on November 26, according to a report by CnEVPost on November 26.

The company has a registered capital of RMB 100 million, with BYD contributing RMB 60 million, or 60 percent, and Momenta taking 40 percent of the shares.

The company's business scope includes artificial intelligence software development, artificial intelligence theory and algorithm development, research and development of intelligent robots, intelligent control system integration, artificial intelligence general application system, and quantum computing technology services.

The company's chairman and general manager is Yang Dongsheng, who is also vice president of BYD Company Limited, director of BYD's Institute of Product Planning and New Automotive Technology, and chief designer of DM technology.

Notably, on December 23, BYD signed a strategic cooperation agreement with LiDAR provider RoboSense at its Shenzhen headquarters, which will accelerate its efforts in automotive intelligence.

Weibo blogger @็—›ๅฟซ่ˆ’็•…, who has long followed BYD, said BYD has already set up a joint venture with autonomous driving unicorn Momenta, and with its partnership with RoboSense, BYD has secured a complete intelligence puzzle.