GM-Backed Momenta Debuts in Hong Kong After $752 Million IPO
- Momenta Global, the Chinese autonomous-driving firm backed by General Motors, Mercedes-Benz, and Tencent, raised about HK$5.9 billion (~$752 million) in its Hong Kong listing and began trading July 8.
- The company plans to allocate roughly 40%-60% of proceeds to AI compute and data storage to scale its robotaxi and driver-assistance technology, intensifying competition with U.S. and Chinese AV players.
- The listing gives GM a liquid mark on a key autonomy investment and adds another data point on Chinese tech IPO demand after recent AI-driven rallies.