Chinese Autonomous Driving Firm Momenta Shifts IPO Plans from New York to Hong Kong Amid Geopolitical Tensions

Momenta, a leading Chinese autonomous driving technology company and Tesla rival, has abandoned plans for a New York IPO in favor of Hong Kong. The shift comes as U.S.-China tensions escalate over trade, politics, and the Ukraine conflict. Backed by major investors including Toyota and Bosch, Momenta is eyeing a potential 2026 listing.

The company specializes in advanced driver-assistance systems that rival Tesla's Autopilot, capable of navigating urban environments with human oversight. While pre-IPO fundraising continues with potential participation from Mercedes-Benz and Hyundai, key details including valuation and offering size remain undetermined. Momenta has denied reports about its listing plans, maintaining the typical secrecy surrounding Chinese tech IPOs.