Momenta Global, one of China’s most heavily funded autonomous-driving startups, is beginning to test investor appetite for a Hong Kong initial public offering this week. The company is targeting roughly $1 billion in proceeds at a valuation of approximately $9 billion, a figure that would make it one of the larger tech IPOs in Hong Kong this year.
Momenta had previously pursued a listing in the States, but those plans lapsed amid geopolitical friction between Washington and Beijing.
From Detroit backing to Hong Kong bells
Momenta develops intelligent driving solutions, ranging from advanced driver-assistance systems, known as ADAS, to fully autonomous vehicles, including Robotaxis, Robovans, and Robotrucks.
The investor roster reads like a who’s who of global automaking. General Motors invested $300 million in Momenta back in 2021. Toyota and SAIC Motor have also backed the company.
