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Chinese self-driving car startup raises $1 billion in funding

Momenta, a Chinese-based automotive startup, is the latest in a series of car manufacturers to raise significant amounts of funding in an effort to establish a new line of self-driving vehicles. The company has closed about $46 million in funding led by NIO Capital, Cathay Capital and Shunwei Capital as well as funding from the Chinese government at a valuation of over $1 billion.

https://electronics360.globalspec.com/article/13028/chinese-self-driving-car-startup-raises-1-billion-in-funding

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