The Chinese self-driving technology company Momenta moved a major step closer to going public on Tuesday, June 23, 2026, filing fresh paperwork with the Hong Kong Stock Exchange after clearing its listing hearing — the final approval needed before selling shares to the public. The company, which counts General Motors and Tencent Holdings among its biggest backers, is expected to start measuring investor interest as soon as this week. China’s securities regulator signed off on the listing earlier this month.
Momenta is aiming to raise about $1 billion, in a deal that would value the company at roughly $9 billion, according to people familiar with the plans. That would make it one of the larger technology listings in Hong Kong this year. The company was valued at more than $5 billion in its last private fundraising round, so a successful debut would mark a sharp step up.
For readers who have never heard of it, Momenta builds the software “brain” that lets cars drive themselves. Its technology comes in two forms. One is the driver-assistance system — the kind that handles highway lane-keeping and parking in everyday cars you can buy today. The other is full self-driving for robotaxis, robovans, and even self-driving trucks that operate with no human at the wheel.
The company has quietly become a giant in its field. Its systems are now installed in close to 700,000 vehicles, with design wins across more than 170 car models. In China’s market for third-party urban self-driving software, Momenta holds an estimated 65% share. Its customers and partners read like a roll call of the global auto industry: Mercedes-Benz, BMW, Audi, Toyota, and SAIC Motor among them.
The General Motors tie is central to the story. The Detroit automaker invested $300 million in Momenta in 2021 to help develop self-driving features for the cars it sells in China, the world’s largest auto market. For GM, the stake is both a financial bet and a way to keep a foot in China’s fast-moving self-driving race without building everything itself.
Momenta originally wanted to list in New York and confidentially filed there in 2024. Those plans fell apart as tensions between Washington and Beijing made it harder for Chinese technology firms to go public in the US. So the company pivoted to Hong Kong, joining a growing line of Chinese tech and robotics names choosing the Asian financial hub instead. Rivals Pony.ai and WeRide both listed there last year.
The timing reflects a boom in Hong Kong share sales. Companies raised about $21 billion in the city in the first five months of 2026, more than double the amount over the same stretch a year earlier. After a long dry spell, Hong Kong is once again a magnet for big technology offerings — and Momenta would be one of the headline names of the year.
There is a catch buried in Momenta’s impressive investor list. Several of its backers — including General Motors, Toyota, Mercedes-Benz, and SAIC Motor — are rival carmakers that are also its customers. Over time, analysts warn, those automakers may not want to depend on an outside supplier that serves their competitors, and many are racing to build their own self-driving software in-house. Momenta’s strength today rests partly on a window that could narrow as the industry matures.
For everyday drivers, the listing is a sign of how fast self-driving is moving from science fiction toward the showroom. The same technology Momenta sells to automakers is what increasingly decides how safe, smart, and hands-free new cars feel. And for American companies like General Motors, the deal is a reminder that much of the cutting-edge work in autonomous driving is now happening in China — a fact with real weight as the US and China compete for the lead in artificial intelligence.
If all goes to plan, Momenta could formally launch its offering around the end of June. Whether public investors reward it with the $9 billion price tag it is seeking will depend on how its progress stacks up against listed rivals like Pony.ai and WeRide, which already trade on the open market. For now, one of China’s best-funded self-driving startups is finally ready to test what the public thinks it is worth.
JBizNews Desk
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