General Motors Co. today announced a $300 million investment in Momenta, a China-based autonomous vehicle startup that raised a separate $500 million funding round only a few months ago.

GM said that the investment will help accelerate the development of self-driving technology for future vehicles it plans to introduce in China.

Momenta is developing autonomous driving systems powered by artificial intelligence. The startup’s first system, Mpilot, promises to enable a high level of autonomy using mass production-ready sensors and chips. Momenta is also working on another autonomous vehicle platform called Momenta Self-Driving, or MSD, in parallel. 

“Momenta is committed to developing breakthrough artificial intelligence solutions to push beyond the frontier of possibilities today and significantly improve personal mobility experiences,” said Momenta Chief Executive Officer Xudong Cao. “Together with GM, we will jointly invest in autonomous vehicle technologies to enhance driving safety, convenience and efficiency.”

GM is rapidly increasing its investment in autonomous driving technology to keep pace with other automakers that are doing the same. The company, which is the largest automaker in the U.S., is also prioritizing electric vehicles as part of its roadmap. Earlier this year, GM announced plans to boost its spending on electric and autonomous vehicles from 2020 through 2025 to $35 billion.

In China, GM is expanding its design and engineering facilities for developing electric and autonomous vehicles. The company is also working to enhance its ability to release over-the-air software updates to vehicles.

In conjunction, GM is preparing to roll out its Ultium battery system, which stands at the center of the automaker’s long-term vehicle development roadmap.

GM claims that Ultium costs 40% less than the battery pack powering the Chevrolet Bolt. The company expects that the second iteration of the system, which is expected to launch in the middle of the decade, will increase the cost savings to 60%.

Ultium’s lower price is the result of several technological advances. GM says an Ultium system requires as much as 90% less wiring and has an up to 15% lower volume than existing technologies. Built-in software occasionally adjusts how the battery system is configured to optimize efficiency.

GM plans to incorporate Ultium into both cars and trucks. To prepare for the second iteration of the system, which is set to launch in the middle of the decade, the automaker will ship first-generation Ultium units with a modular chassis. GM says that the chassis will make it relatively easy to upgrade to the second-generation technology when it becomes available.  

Meanwhile, in the self-driving car segment, GM is developing an autonomous driving platform through its Cruise subsidiary. Cruise acquired autonomous driving startup Voyage Auto Inc. earlier this year for an undisclosed sum to support product development efforts.

Photo: Momenta