Momenta Launches $751M Hong Kong IPO With Mercedes-Benz, BlackRock as Cornerstones — Level 4 Robotaxi Services in Abu Dhabi and Munich Planned With Uber

Shanghai-based Momenta formally launched its Hong Kong IPO on June 29, targeting up to $751.1 million at HK$295.60 per share with trading set for July 8. The company claims 65%+ of China's third-party urban Navigate-on-Autopilot market with software deployed in 680,000–900,000+ vehicles across Toyota, Mercedes-Benz, BYD, GM, and Audi; cornerstone investors include Mercedes-Benz, BlackRock, GIC, and Fidelity International. Approximately 60% of proceeds will fund AI compute and data infrastructure, with the remainder supporting planned commercial Level 4 robotaxi services in Abu Dhabi and Munich in partnership with Uber.