Momenta Global Ltd, a Suzhou-based autonomous driving startup backed by General Motors and Tencent, could start gauging investor interest for a Hong Kong initial public offering as early as this week, according to people familiar with the matter.

The people said terms could still change.

Momenta received approval from Hong Kong Exchanges and Clearing and filed paperwork on June 23 after its listing hearing.

Founded in 2016, the company supplies technology for mass-produced vehicles and robotaxi services.

Its filing shows it posted a 3.5 billion yuan (US$510 million) loss on 2.4 billion yuan (US$354 million) in revenue in 2025.

China International Capital Corp. and Deutsche Bank are leading the IPO.

Momenta said in 2021 that it had raised more than US$1 billion across its series C funding rounds from investors including SAIC Motor, General Motors, Toyota, Bosch, Temasek, Mercedes-Benz, and Tencent.

Auto supplier Valeo said more than 40 production models and more than 400,000 vehicles are on the road with Momenta systems.

🔗 Source: Bloomberg