Theranautilus Secures $1.2 Mn in Seed...
19 Nov 2024
Momenta Global Ltd, a prominent Chinese autonomous driving start-up, is preparing for an initial public offering (IPO) in the United States, potentially by the end of this year or the first half of next year, according to sources on Wednesday.
The anonymous sources revealed that the company, valued at approximately $5 billion, aims to list in the US as early as the year's end and no later than mid-next year.
Founded in 2016, Momenta is an autonomous driving solutions provider with a dual-track product strategy, including the L2 mass-produced autonomous driving system Mpilot and its fully autonomous L4 and above system MSD.
On Monday, China's securities regulator approved Momenta's US IPO, with plans to issue up to 63,352,856 ordinary shares and list on either the Nasdaq Stock Market or the New York Stock Exchange.
Momenta has secured over 10 mass production projects from automakers like SAIC's IM Motors, Lotus, Denza, Yangwang Auto, and Avatr.
It has provided solutions for more than 50 vehicle models, with two models from BYD Toyota EV Technology Co Ltd and FAW Toyota expected to enter mass production this year.
Chat on WhatsApp
Request a call back
