Momenta US News: one of China’s leading developers of autonomous driving technology, has confidentially filed for an initial public offering in Hong Kong, two people with direct knowledge of the matter told Reuters on Monday.
The Suzhou-based company, known for its advanced driver-assistance systems that rival Tesla’s Full Self-Driving capabilities, has abandoned earlier plans for a New York listing amid persistent U.S.-China tensions and stricter scrutiny of Chinese companies seeking to go public in the United States.
Momenta had secured approval from China’s securities regulator for a potential U.S. IPO, but that authorization expired in June without the offering moving forward. The company has now turned its attention to Hong Kong, joining a wave of Chinese technology firms choosing the Asian financial hub for their market debuts.
Financial terms of the planned Hong Kong listing, including the size of the offering and expected timeline, have not been disclosed. Momenta declined to comment when contacted by Reuters, and Hong Kong Exchanges and Clearing Limited, the operator of the city’s stock exchange, also declined to comment.
The company counts some of the world’s largest automotive players among its backers, including Toyota Motor Corporation, General Motors, Mercedes-Benz, and German supplier Robert Bosch. SAIC Motor, one of China’s big four state-owned automakers, is also a major investor.
Momenta’s technology focuses on Level 2+ and Level 3 autonomous driving solutions, enabling vehicles to navigate complex urban environments with driver supervision. Its software is already deployed in production vehicles from several Chinese and international brands.
The filing comes during a strong year for Hong Kong’s IPO market. By mid-November, companies listing in the city had raised more than $32 billion in 2025, representing an increase of over 200 percent from the same period last year and marking the exchange’s best performance since 2021, according to Dealogic data.
The surge in activity has been driven largely by Chinese companies in new energy, technology, and consumer sectors that have either shifted away from U.S. listings or chosen Hong Kong as their primary venue from the outset.
