Momenta Leads $70 Million Funding Round for Electric Truck Startup ZERON
Chinese autonomous driving unicorn Momenta has significantly expanded its investment strategy within the autonomous vehicle sector by leading a RMB 500 million ($70 million) funding round for ZERON, an electric heavy-duty truck manufacturer. This strategic move, reported by 36Kr and TechNode, involves two other venture capital firms and highlights Momenta's interest in diversifying beyond passenger self-driving cars. ZERON, co-founded by Huang Zehua, a former vice president at TuSimple, has established itself as a notable player in the industry. In just three years, the startup has delivered over 700 electric heavy-duty trucks through a manufacturing partnership with Chery. The company projects that its delivery numbers will exceed 1,500 units by the end of the current year. Meanwhile, Momenta, which is backed by major global automakers including Toyota, General Motors, and Mercedes-Benz, previously filed confidentially for a US initial public offering. The company is also developing Level 4 autonomous delivery robots to enhance its market valuation. This investment underscores the growing convergence of electric mobility and autonomous technology in China's commercial transport sector.
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Momenta Leads $70 Million Funding Round for Electric Truck Startup ZERON
Chinese autonomous driving unicorn Momenta has significantly expanded its investment strategy within the autonomous vehicle sector by leading a RMB 500 million ($70 million) funding round for ZERON, an electric heavy-duty truck manufacturer. This strategic move, reported by 36Kr and TechNode, involves two other venture capital firms and highlights Momenta's interest in diversifying beyond passenger self-driving cars. ZERON, co-founded by Huang Zehua, a former vice president at TuSimple, has established itself as a notable player in the industry. In just three years, the startup has delivered over 700 electric heavy-duty trucks through a manufacturing partnership with Chery. The company projects that its delivery numbers will exceed 1,500 units by the end of the current year. Meanwhile, Momenta, which is backed by major global automakers including Toyota, General Motors, and Mercedes-Benz, previously filed confidentially for a US initial public offering. The company is also developing Level 4 autonomous delivery robots to enhance its market valuation. This investment underscores the growing convergence of electric mobility and autonomous technology in China's commercial transport sector.
TechNode