China's Autonomous Driving Startup Momenta Lists in Hong Kong, Plans to Invest ¥120 Billion in AI Technology Chinese autonomous driving startup Momenta made its debut on the Hong Kong Stock Exchange on July 8, trading under the stock code 6880.HK. The company, which provides AI-powered driver assistance systems for mass-production vehicles, plans to invest approximately ¥100 billion (approximately $615.4 million) of the proceeds from its initial public offering (IPO) into autonomous driving technology development, aiming to strengthen its competitiveness in the global market. Momenta's shares closed above the IPO price on the first day of trading. Total funds raised through the public offering and related share issuance reached approximately HK$6.8 billion (approximately $738.5 million), assuming full exercise of the greenshoe option. The IPO price was set at HK$295.6 per share, with the retail tranche attracting an overwhelming 414 times oversubscription. The international placement for institutional investors also drew orders exceeding HK$100 billion from sovereign wealth funds and long-only funds across 15 countries and regions, resulting in an oversubscription ratio of approximately 44 times. At the listing ceremony, founder and CEO Cao Xudong stated, "We have set forth three decade-long visions: to save one million lives in ten years, to liberate 100% of people's driving time in ten years, and to double logistics and mobility efficiency in ten years." Cao further emphasized, "We are already providing over one million users with a safer and more secure driving experience." Momenta's mass-production track record continues to expand rapidly. The number of mass-production vehicles equipped with the company's systems has surpassed one million units, covering more than 100 production models. The cumulative number of vehicle models designated for its technology exceeds 210. In April 2026, the company deployed its next-generation core technology, the "Momenta R7 World Model," in a mass-production vehicle for the first