University Of Michigan To Get $27M From Chinese Firm For Robotics Research

DETROIT (AP) – The University of Michigan is set to receive $27 million from a Chinese investment firm to aid in the institution’s driverless vehicle and robotics research.

The university’s President Mark Schlissel and Vice President for Research S. Jack Hu signed a memorandum of understanding on Saturday in Shenzhen, China, with Frontt Capital Management Ltd.

The funding will establish a joint research center at the university and assist the construction of a previously announced robotics laboratory and garage. It’ll also provide engineering service and consulting fees for university researchers to advise the firm on design of an autonomous vehicle test facility in Shenzhen.

Schlissel said in a statement that the firm’s investment will help advance mobility across the world.

Officials say they expect the investments to be made over five years, but a starting time hasn’t been finalized.

© Copyright 2016 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.


Leave a Reply

Fill in your details below or click an icon to log in:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS Detroit

Best Fall Festivals In Metro DetroitFrom music to art to special events, there's a little something for everyone's delight.
Best 4th Of July Concerts In Metro DetroitStaying home this weekend? Celebrate the 4th of July by rocking out at one of these shows.

Watch & Listen