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News, Analysis & Perspective on Autonomous Vehicles

Source: Autonomous driving unicorn Momenta dissolves aftermarket division due to funding difficulties

On July 31, Beijing-based autonomous driving unicorn Momenta abruptly eliminated its entire automative aftermarket division, involving more than 100 employees in total, sources told Pandaily. The division, which consists mostly of research and development staff, was cut without any notice. Affected staff members have now been temporarily allocated to other departments, although sources mentioned that layoffs will “eventually” occur.

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