Momentum, autonomous driving developer, targets a valuation of $9 billion in IPO, sources say

Chinese autonomous driving developer Momenta is preparing for an initial public offering (IPO) in Hong Kong that could value the company at approximately $9 billion, according to sources familiar with the matter. The company, based in Suzhou, Jiangsu, plans to raise around $1 billion through the offering by selling up to 43.75 million shares. Momenta, which has received backing from General Motors, Toyota, and SAIC Motor, provides autonomous driving assistance systems to automakers and has partnered with Uber and Mercedes-Benz on robotaxi projects in Munich and Abu Dhabi, respectively.

The company has also expanded its presence in Southeast Asia through a collaboration with Grab, a major ride-hailing and delivery firm in the region. The Hong Kong listing would align Momenta with other autonomous driving firms, such as WeRide and Pony AI, which have recently gone public in the city to raise capital for fleet expansion and technological development. Hong Kong’s stock market has seen a surge in fundraising activity, with companies raising approximately $21.28 billion in the first five months of 2026, compared to $79.2 billion in the same period the previous year.