Chinese self-driving technology unicorn Momenta is setting up a team to develop Level 4 autonomous delivery robots in the hope of increasing its valuation in a potential public listing, sources told Chinese media outlet Xinliu Car, without giving further details. Momenta, already backed by big automakers including Toyota, General Motors and Mercedes-Benz, captures more than 60% of the market segment of City NOA (navigation on ADAS — advanced driver-assistance system) in China, market intelligence firm Shujubang said in a post in January. China’s securities regulator said last June that it had approved the initial public offering of Momenta Global Limited in the United States, as the company intended to list on either the Nasdaq Stock Market or the New York Stock Exchange. Chief Executive and co-founder Cao Xudong said in April that the company has signed contracts to supply more than 130 car models with its assisted driving technologies. [TechNode reporting, Xinliu Car, in Chinese]
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