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Chinese Firm Invests in U-Mich Autonomous Car Research
Frontt Capital Management Ltd., a Shenzhen, China-based investment firm, has signed a memorandum of understanding with the University of Michigan to partner on research and development programs for autonomous and connected vehicle technologies.
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Frontt Capital Management Ltd., a Shenzhen, China-based investment firm, has signed a memorandum of understanding with the University of Michigan to partner on research and development programs for autonomous and connected vehicle technologies.
Under the agreement, which is expected to be finalized by year-end, Frontt will provide $27 million to U-M over the next five years.
The money will help fund several projects at U-M’s Ann Arbor, Mich., campus, including a joint research center for intelligent vehicles and building a previously announced robotics laboratory and testing garage. Ford Motor Co. also is partnering with U-M on the 140,000-sq-ft robotics lab, which is due to open in 2020.
In addition, U-M researchers will provide engineering and consulting services to Frontt on the design of an autonomous vehicle test facility in Shenzhen. U-M’s industry partners will be able to test their autonomous and connected vehicle technologies at the China center.
The complex will be tailored to China’s driving environment, which includes shared roadways with bicyclists and pedestrians, shorter highway on-ramps, more congestion and different traffic patterns than in the U.S. Research will focus on safety, efficiency and sustainability, according to the partners. They note that more than 200,000 people die per year in China due to road accidents.
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