Cointime update: SAIC Motor’s board approved a plan to set up a smart-driving joint venture with Momenta and others, with registered capital of 300 million yuan ($42 million). Momenta will contribute 153 million yuan for a 51% stake, SAIC 75 million yuan for 25%, and Yandian Technology 72 million yuan for 24%, giving SAIC and Yandian a combined 49%.
SAIC, Momenta to Form $42M Smart-Driving Joint Venture
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