Key Takeaways:
- Momenta plans to raise $1 billion in a Hong Kong IPO.
- The autonomous driving firm is valued at about $9 billion.
- CSRC approval clears a key regulatory hurdle for the listing.
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Momenta targets $1 billion Hong Kong IPO at $9 billion valuation
Momenta, the Chinese autonomous driving startup backed by General Motors, plans to raise $1 billion in a Hong Kong IPO at a valuation of about $9 billion.
"Momenta's valuation has reached around $9 billion as it gears up to list in Hong Kong," people familiar with the matter said, asking not to be identified discussing private information.
The Suzhou-based company plans to issue as many as 43.8 million overseas-listed common shares, according to a CSRC filing. Momenta must complete the listing within 12 months from the notice date. The company is working with China International Capital Corp. and Deutsche Bank on the offering, Bloomberg has reported.
The Hong Kong listing marks Momenta's pivot from an earlier plan to list in New York, which lapsed as US-China tensions rose. The IPO would make Momenta one of the most valuable publicly traded autonomous driving companies, testing investor appetite for a sector that has yet to generate widespread profitability.
Momenta counts Mercedes-Benz, Toyota Motor, SAIC Motor and Tencent Holdings among its strategic investors. Mercedes-Benz became the first international carmaker to invest in the company in 2017.
The company supplies mass-production driver-assistance systems to automakers including Mercedes-Benz, BMW and Audi. It also operates robotaxi services, having launched a fleet in Abu Dhabi with Mercedes-Benz and UAE mobility operator Lumo in December. Momenta struck a strategic robotaxi partnership with Uber Technologies in May and secured an investment from Southeast Asian super-app Grab in December 2025.
Founded in 2016 by a team of former researchers from Microsoft Research Asia and Baidu, Momenta takes an approach that integrates L4 autonomous driving capabilities into mass-production models, creating an all-in-one solution that requires no costly retrofitting later.
The pricing gives Momenta an enterprise value of about $9 billion, a premium to some autonomous driving peers that have yet to reach profitability at scale. First-day trading on the Hong Kong Stock Exchange will test institutional demand for a sector that has attracted billions in investment but faces a long road to commercial returns.
This article is for informational purposes only and does not constitute investment advice.
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