AV Firms Eye HK

Pony.ai and WeRide, both Chinese autonomous vehicle companies already listed on the Nasdaq, have received regulatory approval for secondary listings in Hong Kong. Each firm is authorised to issue approximately 102 million shares. Pony.ai's shares have seen a 71% increase since their US debut in November 2024, while WeRide's have decreased by 31% since October 2024.

These listings could enable Pony.ai to potentially raise $2.3 billion, and WeRide $1.1 billion. The move reflects a broader trend of Chinese companies seeking listings in Hong Kong amidst US-China tensions. The Chinese firms are tapping into global investors' interest in China's electric vehicle industry as key players accelerate their global expansion plans.

The autonomous vehicle sector in China is projected to reach $100 billion by 2030, with both companies backed by significant industry players. This development occurs as China increases support for autonomous driving, opening road access for advanced autonomous vehicles and fostering public interest in robotaxi services.