The Momenta company. Credit: Momenta Understand China EV’s Market Real-time notifications when critical EV data is released All important data in one place 2,000,000+ data points Become a member Momenta, a Chinese intelligent driving startup, has successfully passed its listing hearing with the Hong Kong Exchanges (HKEX). The company released its post-hearing listing application materials on June 23, 2026, though specific details regarding the IPO date and the amount of capital to be raised have not yet been disclosed. Founded in 2016 by CEO Cao Xudong, Momenta has established itself as a major player in the intelligent driving sector. The company’s pre-IPO shareholder structure includes a mix of prominent domestic and international automotive giants. Key investors include SAIC Motor, General Motors, Mercedes-Benz, and Toyota, which held stakes of 9.45%, 9.37%, 6.39%, and 1.54%, respectively, prior to the listing. Other notable shareholders include BYD, Chery, and Hyundai. Financial performance and market positionAccording to the listing documents, Momenta generated 2.41 billion yuan (354.4 million USD) in revenue in 2025, with a gross margin of 71.6%. While the company reported a net loss of 3.46 billion yuan (508.8 million USD) for the year – largely driven by 1.87 billion yuan (275 million USD) in R&D expenditures – the underlying financial health is improving. When excluding non-cash items such as employee equity and fair value changes in preferred shares, the company’s operating loss for 2025 stood at 300 million yuan (44.1 million USD), marking a narrowing compared to its adjusted losses in 2024. Momenta remains a dominant force in the L2 advanced driver-assistance systems (ADAS) market. By the end of 2025, the company had secured design wins for 170 vehicle models, with 68 models already in mass production. According to data from Frost & Sullivan cited by Caixin, Momenta claims the top global market share of 64.5% in the urban L2 ADAS segment based on vehicle sales volume. Momenta positions itself as a “trusted partner of global leaders”. Strategic outlook and global ambitions Momenta plans to utilise the proceeds from its IPO to accelerate R&D for next-generation intelligent driving solutions, enhance AI computing power and data storage, commercialise its robotaxi services, and deploy L4-level autonomous fleets overseas. Industry analysts quoted by Caixin note that Momenta occupies a unique “ecological niche.” Unlike competitors such as Huawei, whose automotive business unit (BU) faces limitations in international markets due to U.S. sanctions, Momenta has successfully cultivated deep partnerships with multinational automakers. Many of these global firms are both customers and shareholders of Momenta. Momenta’s global footprint is already expanding, with its ADAS products available in over 10 countries across Asia, Europe, Oceania, Latin America, and North Africa. Furthermore, its robotaxi services have established collaborations with global mobility platforms, including Uber, Grab, Lumo, and SAIC’s Saic Mobility, as well as Mercedes-Benz, with operations currently active in cities across Asia, Europe, and the Middle East.