Pony.ai, WeRide shares plunge on Hong Kong debut

Chinese autonomous driving exertion institution Pony.ai Inc has listed its shares connected the Hong Kong Stock Exchange’s (HKEX) Main Board, with the contented of 48.25 cardinal shares priced astatine HKD 139. The stock contented is expected to person generated full proceeds of HKD 7.7 cardinal (US$ 991 million), making it the world's largest IPO successful the autonomous driving assemblage successful 2025. The stock terms successful Hong Kong dropped by 13% to HKD 124 erstwhile the marketplace opened.

Dr James Peng, Founder and CEO of Pony.ai, said successful a statement: "After astir 9 years of relentless innovation and exploration, Pony.ai stands connected the brink of large-scale commercialization successful autonomous driving. Years of technological advancement, real-world deployment, and ecosystem gathering are present coming to a infinitesimal of fruition. Our Hong Kong listing represents not lone a captious measurement successful our superior strategy but besides a important milestone successful connecting with planetary markets and resources. We are profoundly grateful to everyone who has walked this travel with us."

Another Chinese robotaxi firm, WeRide Inc, besides listed its shares connected the HKEX this week, raising astir HKD 2.39 billion. Its shares, listed astatine HKD 27.1 per share, fell by implicit 13% erstwhile the marketplace opened.

WeRide’s laminitis and CEO, Dr Tony Han, said connected the time of the listing: “We are profoundly grateful to our partners, investors, customers, and each subordinate of the WeRide team. Your spot and dedication person helped crook our imaginativeness of autonomous driving into reality. Over the past 8 years, WeRide has evolved from technological innovation to commercialized operation, becoming the lone institution worldwide with products holding autonomous driving permits successful 7 countries, and deployments successful implicit 30 cities crossed 11 countries. We firmly judge that harmless and reliable autonomous driving exertion volition present immense economical and societal benefits. Our Hong Kong listing marks a caller beginning, and we volition proceed to pb with technology, thrust planetary commercialized deployment, and present long-term, sustainable worth for our shareholders and society.”

Competition successful the planetary robotaxi concern is heating up, with Pony.ai and WeRide up against larger competitors specified arsenic Baidu's Apollo Go successful China and Alphabet's Waymo successful the US. Stellantis precocious formed a caller concern with Uber, with Nvidia and Taiwan’s Foxconn arsenic their exertion partners.

Another Chinese automotive company, components shaper Ningbo Joyson Electronic Corporation, besides listed its shares connected the HKEX connected the aforesaid day, priced astatine HKD 22, earlier closing down by 8% astatine HKD 20.24.