Chinese autonomous driving technology company Momenta has received filing approval from China’s securities regulator for its planned Hong Kong initial public offering (IPO), moving the company a step closer to a public market debut.
The China Securities Regulatory Commission (CSRC) said it had accepted the overseas listing filing submitted by Momenta Global Limited through its domestic operating entity, according to a notice released on Thursday.
Hong Kong Listing Plans Advance
Under the filing, Momenta plans to issue up to 43.75 million overseas-listed common shares and seek a listing on the Hong Kong Stock Exchange.
The filing notice, dated June 10 and published on June 18, represents a key regulatory requirement for Chinese companies pursuing overseas listings.
The CSRC emphasized that the filing does not constitute an assessment of the company’s investment value or an endorsement of the offering. The company must complete the listing within 12 months or submit updated documentation if it chooses to proceed at a later date.
IPO Could Raise Significant Capital
The regulatory approval follows earlier reports that Momenta had confidentially filed for a Hong Kong IPO.
Bloomberg reported in March that the company could seek to raise at least $1 billion through the offering, citing people familiar with the matter.
According to the report, Momenta had been working with China International Capital Corporation (CICC) and Deutsche Bank on preparations for the listing.
The move marks a shift from the company’s earlier plans to pursue a U.S. listing. Reports indicate that a confidential IPO application previously filed in the United States lapsed amid heightened regulatory and geopolitical challenges affecting Chinese listings overseas.
One of China’s Most Valuable Autonomous Driving Startups
Founded in 2016 and headquartered in Suzhou, near Shanghai, Momenta has emerged as one of China’s leading autonomous driving technology developers.
The company was valued at more than $5 billion during its most recent funding round in 2025, placing it among the country’s highest-valued self-driving startups.
Momenta develops advanced driver-assistance systems (ADAS) and autonomous driving technologies for automotive manufacturers, while also investing heavily in robotaxi development.
Backed by Global Automotive Investors
The company has attracted investments from several major global automotive and technology companies.
Its investors include Mercedes-Benz, SAIC Motor, Toyota Motor, General Motors, and Tencent Holdings.
Momenta supplies mass-production intelligent driving systems to automakers including Mercedes-Benz, BMW, and Audi.
The company has adopted a strategy of leveraging technologies developed for Level 4 autonomous driving to enhance advanced driver-assistance systems deployed in production vehicles.
Expanding Robotaxi Ambitions
Alongside its automotive software business, Momenta continues to pursue commercial robotaxi opportunities.
In December 2025, the company secured a strategic investment from Southeast Asian technology platform Grab to support deployment of autonomous driving technologies across the region.
Earlier, in May 2025, Momenta announced a strategic partnership with ride-hailing company Uber Technologies to explore robotaxi commercialization opportunities.
Deepening Partnership With Mercedes-Benz
Mercedes-Benz remains one of Momenta’s longest-standing strategic partners.
The German automaker became the first international vehicle manufacturer to invest in the company in 2017.
In late 2025, Momenta, Mercedes-Benz, and UAE mobility operator Lumo announced plans to deploy a robotaxi fleet in Abu Dhabi based on the latest Mercedes-Benz S-Class.
Commercial operations for the service are expected to begin in 2026.
The planned Hong Kong IPO comes as investor interest in artificial intelligence and autonomous driving technologies continues to grow, with companies seeking capital to support the development and commercialization of increasingly sophisticated mobility solutions.
