- Momenta is China’s first unicorn company in autonomous driving.
- Auto OEMs like BYD, Toyota, SAIC and Mercedes use Momenta technology.
- Momenta’s software-only approach has enabled a more efficient allocation of resources for R&D.
The year 2025 may prove to be pivotal for the autonomous driving industry, predict many industry watchers, including those from Counterpoint Research. Notably, China is leading the way in autonomous driving technology, supported by a strong ecosystem that includes companies involved in chip development, sensor manufacturing and software design, and favorable government policies. The number of companies focused on autonomous driving technology in China has surged, reaching 5,682 in 2022, with 201 new companies registered in just the first six months of that year. This rapid growth highlights the challenging market dynamics that make it difficult for start-ups to thrive in a competitive environment like China.
Companies like Horizon Robotics and Black Sesame Technologies have grown immensely since their inception and have become renowned names in the global automotive industry. However, one company has achieved complete dominance in China’s autonomous vehicle industry. The biggest automakers, such as BYD, Toyota, Dongfeng, SAIC, Mercedes and Nissan, use its technology, but this company has not often managed to grab the industry's attention.
Momenta is an autonomous driving software company founded in 2016 in China. Two years after its inception, the company became the first autonomous driving unicorn in China and received investment from companies like NIO and Daimler. Momenta has received over $1 billion in investment since its founding year, from companies like SAIC, Bosch, Toyota and GM.
Source: Counterpoint Research
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Author
Mohit Sharma
Mohit is a seasoned Research Analyst at Counterpoint Technology Market Research, specializing in the Automotive Industry and its transformative megatrends, including Connectivity, Autonomous Vehicles, Electric Vehicles, Shared Mobility, and Location Technology. His academic foundation as a Mechanical Engineer is complemented by a Master's degree from EBS University in Germany, where he collaborated with leading automotive OEMs such as Kia and Daimler.
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