Momenta is considering shifting its listing venue from New York to Hong Kong, and has informed some investors of a potential 2026 debut on the HKEX.
On September 26, Chinese self-driving startup Momenta is seeking to raise a new round of financing at a valuation exceeding $5 billion, according to Bloomberg, marking a significant leap from its previous valuation.
People familiar with the matter said the company has engaged advisors to gauge investor interest. The initial fundraising target is several hundred million dollars, with the final amount subject to market conditions. A successful raise would pave the way for Momenta’s initial public offering (IPO).
Momenta had secretly filed for a U.S. IPO last year, but the plan stalled due to unfavorable market conditions. According to information disclosed by the China Securities Regulatory Commission, its filing for a U.S. listing, secured in mid-2024, expired this June.
Reuters reported today that the company is considering shifting its listing venue from New York to Hong Kong, and has informed some investors of a potential 2026 debut on the Hong Kong Stock Exchange.
The report also noted that Momenta is close to completing its final pre-IPO funding round, with strategic investors such as Mercedes-Benz and Hyundai expected to participate.
By comparison, fellow Chinese autonomous driving firms Pony.ai and WeRide, which focus on the Robotaxi segment and are already listed in the U.S., currently have market capitalizations of $7.6 billion and $3.1 billion, respectively.
Unlike its peers, Momenta—founded in 2016—focuses on providing mass-production intelligent driving solutions to automakers. Its business footprint spans China, Germany, Japan, and the United States.
In recent years, the company has attracted strategic investments from leading automakers and suppliers including SAIC Motor, General Motors, Mercedes-Benz, Toyota, and Bosch, as well as backing from Temasek Holdings Pte, Tencent Holdings Ltd. and Jack Ma’s Yunfeng Capital.
Just yesterday, Mercedes-Benz announced a partnership with Momenta to develop advanced driver-assistance systems for the Chinese market.
This makes Momenta a partner of all three major German luxury carmakers—BMW, Mercedes-Benz, and Audi.
The jointly developed system will debut this fall in the locally manufactured all-electric CLA model. Covering highway, urban, and parking scenarios, it will enable continuous assisted driving “from departure parking spot to destination parking spot.” Mercedes-Benz plans to roll out the technology to additional models in the future.
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