SAIC Motor to Form Joint Venture with Yandian Technology and Momenta

On November 5, 2026, SAIC Motor announced that its board of directors had approved a resolution to establish a joint venture (name pending) with Yandian Technology Co., Ltd. and Momenta (Suzhou) Technology Co., Ltd. (Momenta) to strengthen R&D capabilities in advanced intelligent driving technology. The new company will have a registered capital of RMB 300 million. Among the contributions, Momenta will subscribe RMB 153 million for a 51% stake; SAIC Motor will subscribe RMB 75 million for a 25% stake; and Yandian Technology will subscribe RMB 72 million for a 24% stake. Business registration information shows that Yandian Technology was established on June 27, 2022, with registered capital of RMB 100 million and Zang Chungao as its legal representative. Its sole shareholder is Yanfeng Automotive Trim Systems Co., Ltd., and its actual controller is the State-owned Assets Supervision and Administration Commission of Shanghai Municipality. It belongs to the same Shanghai Automotive Industry Group system as SAIC Motor. Yandian Technology is positioned as Yanfeng's independent electronics business platform, focusing on the smart cockpit sector with cockpit domain controllers as its core. It is headquartered in Shanghai, with R&D centers in Shanghai and Nanjing and an intelligent manufacturing base in Xuzhou. SAIC Motor is Momenta's largest institutional shareholder, and Momenta holds a reciprocal stake in IM Motors. Momenta provides the assisted driving solutions for all IM-brand models, and the two parties jointly developed the IM AD intelligent assisted driving system. Momenta was founded in 2016, with Cao Xudong as CEO. On July 8, 2026, Momenta was listed on the Main Board of the Hong Kong Stock Exchange under the stock code 6880.HK, with an issue price of HK$295.6 per share, and its total market value exceeded HK$70 billion on the first day of listing. In April 2026, Momenta achieved mass production of the R7 world model, supporting deployment in scenarios including passenger vehicles, unmanned logistics vehicles, driverless trucks, robotaxis, and robots.