Proton Motor Corp. is planning to go public in Hong Kong this year, aiming to raise approximately $200 million.

According to media reports, China's electric truck manufacturer "Proton Motor" plans to list in Hong Kong this year, raising US$200 million (about HK$1.56 billion). Sources said that Proton Motor is in talks with potential advisers to help prepare for a potential stock offering. The sources added that the related considerations are still ongoing and the IPO may not happen in the end.

According to the information, Proton Motor was established in April 2022, focusing on the research and production of electric trucks using hydrogen batteries, covering new energy, intelligent networking, new materials technology and parts manufacturing and sales.

Last July, Yang Yang, co-founder and IoT chief engineer of Proton Motor, said that Hong Kong has a large number of customer needs and obvious financing advantages, planning to list in Hong Kong in 2025. Yang Yang said that the company developed rapidly, with sales exceeding Rmb1bn in 2023, and has received multiple rounds of financing, planning to set up a hydrogen research institute in Hong Kong to accelerate technological innovation using university resources.

Yang Yang emphasized that Hong Kong helps enterprises expand the international market and further develop businesses in Southeast Asia, Europe and the Middle East.