China's Robotaxi Firms Pony AI and WeRide Raise $1.1 Billion in Hong Kong IPO, Shares Crash on Debut

Pony AI and WeRide, two Chinese robotaxi companies, have faced a rocky debut on the Hong Kong market, with Pony AI tumbling 15% to HK$118.80 and WeRide slipping 15% to HK$23 despite raising over $1.1 billion in combined proceeds. Analysts at Daiwa Capital Markets see long-term promise, arguing that both firms offer investable exposure to global autonomous-driving innovation. The dueling listings may have clouded sentiment, but could be a sign of China's global autonomous-driving ascent.