Core Viewpoint - Pony.ai and WeRide have received approval from China's securities regulator for secondary listings in Hong Kong, aiming to raise funds and expand globally [1][2] Group 1: Company Listings - Both Pony.ai and WeRide have filed to issue and list shares in Hong Kong, with each company able to issue approximately 102 million new shares [2] - WeRide has engaged Morgan Stanley and China International Capital Corporation for its listing efforts [3] - Pony.ai's CEO indicated that a Hong Kong listing would provide "close proximity" to the Chinese market, appealing to investors [3] Group 2: Market Context - The move for dual listings comes amid a resurgence in Hong Kong's IPO market, with more Chinese companies seeking secondary listings [4] - The autonomous vehicle sector is expanding into new regions, including the Middle East, Europe, and parts of Asia, although full operational approvals for robotaxis in these areas are still pending [5] Group 3: Operational Developments - In the U.S., both companies have partnered with Uber to deploy their robotaxis on the ride-hailing platform, pending approval [6] - In China, Pony.ai and WeRide have commenced operations of fully autonomous robotaxis in major cities, accessible via their apps [6] Group 4: Stock Performance - Pony.ai launched its IPO in November at $13 per share, with a stock price increase of over 60% since then [7] - WeRide debuted on the Nasdaq with an IPO price of $15.50 per share in October 2024, but its stock has decreased by over 30% [7]
China greenlights autonomous driving firms Pony.ai and WeRide's Hong Kong listings