[Momenta plans to establish a joint venture with SAIC Motor and Yandian Technology with a registered capital of 300 million yuan] On November 5, Momenta announced that its wholly-owned subsidiary Momenta (Suzhou) Technology Co., Ltd. has reached an agreement with SAIC Group and Yandian Technology to jointly establish a joint venture with a registered capital of 300 million yuan. Among them, Momen Tower Suzhou subscribed 153 million yuan and holds 51% of the shares; SAIC Group subscribed 75 million yuan and held 25% of the shares; Yandian Technology subscribed 72 million yuan and held 24% of the shares. The joint venture aims to deepen the cooperation between all parties on a global scale and on all vehicle platforms, and provide high-end intelligent driving products and services covering L2, L3 and so on.