Chinese Autonomous Driving Firm Momenta to Raise $752 Million in Hong Kong IPO

Chinese autonomous driving technology firm Momenta is set to launch its initial public offering on the Hong Kong stock exchange in early July, with the company aiming to raise around $752 million. The offering involves approximately 19.9 million shares priced at $37.70 each. Momenta's debut is anticipated on Wednesday, July 8.

The company plans to strategically deploy the capital raised, allocating 60% to research and development. This investment will primarily fuel the advancement of next-generation autonomous driving solutions, with a significant focus on enhancing artificial intelligence capabilities, data storage, and algorithm improvements. Another 20% of the funds will be dedicated to accelerating the commercialization of its "robotaxi" services, including the deployment of Level 4 autonomous driving fleets.

Momenta has garnered support from a notable list of investors, including German automotive giant Mercedes-Benz, which is already a significant shareholder. A subsidiary of China's leading electric vehicle seller, BYD, as well as prominent funds such as BlackRock, Boyu Capital, and GIC, are also backing the operation. By the end of 2025, over 680,000 vehicles were equipped with Momenta's Level 2 driver-assistance software, reflecting its established presence in the market.

The company has forged partnerships with 24 international manufacturers, including Toyota, General Motors, BMW, Volkswagen, and Honda. Furthermore, Momenta is collaborating with platforms like Uber and Grab to launch robotaxi services in Abu Dhabi and Munich this year, with plans to expand into other regions across the Middle East, Europe, and Southeast Asia. Founded in 2016 by Cao Xudong, a former researcher for companies like SenseTime and Microsoft, Momenta reported a net loss of $509 million in 2025, an increase of 7.9% from the previous year.