Overview
- Momenta priced 19.9 million Class A shares at HK$295.60 and raised about HK$5.89 billion (roughly $751–752 million) in its Hong Kong listing, and its shares began trading in early July.
- About 60% of the IPO proceeds are allocated to research and development for AI computing power, larger data storage and hiring engineers to accelerate product development.
- Cornerstone investors including Mercedes‑Benz, BlackRock, GIC, Fidelity International and Boyu Capital anchored the offering, giving the listing strong strategic and institutional support.
- The company reported fast revenue growth in 2025 (RMB 2.41 billion) alongside wider net losses (RMB 3.45 billion) driven by heavy R&D spending while its software now runs in over 733,000 vehicles through partnerships with about 24 OEMs.
- Momenta holds robotaxi approvals in Suzhou and Shanghai and plans commercial robotaxi launches in Abu Dhabi and Munich this year, a move that could shift its business mix from licensing software toward operating urban ride services and increase costs for fleet deployment and local regulation compliance.