Chinese autonomous driving startup Momenta has confidentially filed for an initial public offering in Hong Kong and could seek to raise at least $1 billion, Bloomberg reported, citing people familiar with the matter.
The company is working with China International Capital Corp and Deutsche Bank as advisers on the planned listing and has begun meeting investors to gauge early interest in the offering, according to the report.
Momenta was valued at more than $5 billion during its latest funding round last year, the report said.
The move represents a shift in the company’s listing strategy. Momenta had previously filed confidentially for a U.S. IPO, but the application has since lapsed amid rising tensions between the United States and China.
Founded in 2016 and headquartered in Suzhou, Momenta is among China’s prominent developers of autonomous driving software. The company focuses on advanced driver-assistance systems and robotaxi technology designed for large-scale deployment.
Its investor base includes several major automakers and technology firms such as Mercedes-Benz, SAIC Motor, Toyota Motor, General Motors and Tencent Holdings.
Momenta supplies advanced driver-assistance technologies for mass-produced vehicles used by global automakers including BMW and Audi, while also developing robotaxi services as part of its long-term strategy.
The company’s approach focuses on integrating Level 4 autonomous capabilities directly into production vehicles, which it says can reduce the need for costly modifications after manufacturing.
Momenta has also been expanding internationally. In December 2025, Southeast Asian technology company Grab invested in the startup to support the rollout of its autonomous driving technology across the region.
Earlier in May 2025, Momenta announced a robotaxi partnership with U.S. ride-hailing company Uber Technologies aimed at accelerating the commercialization of autonomous mobility services.