China Roundup: GM to invest $300m in autonomous driving startup

General Motors to pump US$300 million into Momenta to develop self-driving tech

• Momenta is also backed by automotive giants Toyota and Daimler as well as by SAIC Motor, GM’s main partner in China.
• Together, GM and Momenta will develop self-driving tech for future car models in China.
• Other automotive companies are also testing autonomous driving tech with different Chinese firms, including Toyota with Pony.ai, Nissan with WeRide, and Honda with AutoX.

Augmented reality glasses maker banks US$100 million from Nio Capital, others

• This pushes Nreal‘s total funds raised over the last 12 months to more than US$150 million.
• Other investors in the company include CICC Capital, Sequoia Capital China, Kuaishou, and Hillhouse Capital’s GL Ventures.
• Nreal plasn to use the new funds to research on and develop new products and technology, according to founder and CEO Xu Chi.