Pony AI raises HK$6.7 billion and WeRide HK$2.4 billion as both list in Hong Kong on November 6 amid global capital-market shifts
Two leading Chinese autonomous-driving firms, Pony AI Inc and WeRide Inc, made their Hong Kong Stock Exchange debuts on November 6, marking a significant moment in the robotaxi and mobility-technology sector.
Pony AI raised approximately HK$6.71 billion (about US $863 million) after pricing shares at HK$139 each, while WeRide generated roughly HK$2.39 billion (around US $308 million) via its offering priced at HK$27.10 per share.
For Pony AI, whose U.S. listing on the Nasdaq was completed last year, the Hong Kong listing is described by the company’s co-founder and chief executive Peng Jun as a “key step in our global capital strategy and, more importantly, a milestone that connects us to broader resources as we face the global market.” The company noted that around half of the net proceeds will be allocated to large-scale commercialisation of its Level 4 autonomous-driving technology, with the balance supporting AI research and general corporate use.
WeRide’s offering likewise underscores ambitions to scale robotaxi operations.
Its founder and chief executive Tony Han Xu highlighted what he termed the “huge economic and social benefits” of safe and reliable autonomous driving and confirmed that about 40 percent of the funds raised would enhance the company’s technology stack and accelerate fleet deployment and global expansion, including in Europe, Singapore and Japan.
Despite the successful capital-raises, both stocks fell on debut trading—Pony AI shares dropped around nine per cent and WeRide roughly ten per cent—a reflection of investor caution in a crowded listing market and questions about near-term profitability in the robotaxi space.
Analysts note that while autonomous mobility is a high-growth theme aligned with China’s industrial strategy, it remains a capital-intensive business with long lead-times to scale.
The dual listings also reflect a broader trend of U.S.-listed Chinese tech firms securing secondary or dual listings in Hong Kong, driven by regulatory uncertainty in the United States and the city’s rising prominence as a global listing venue.
For Hong Kong’s capital markets, the arrival of two high-profile autonomous-driving listings bolsters its credentials as a destination for next-generation mobility technology firms seeking global scale.
With the offering proceeds now committed, both Pony AI and WeRide are entering a critical commercial phase: scaling fleets, refining autonomous systems, and proving business models beyond pilot operations.
How they execute in the coming three to five years will determine whether their ambitious capital-market valuations are justified.
Pony AI raised approximately HK$6.71 billion (about US $863 million) after pricing shares at HK$139 each, while WeRide generated roughly HK$2.39 billion (around US $308 million) via its offering priced at HK$27.10 per share.
For Pony AI, whose U.S. listing on the Nasdaq was completed last year, the Hong Kong listing is described by the company’s co-founder and chief executive Peng Jun as a “key step in our global capital strategy and, more importantly, a milestone that connects us to broader resources as we face the global market.” The company noted that around half of the net proceeds will be allocated to large-scale commercialisation of its Level 4 autonomous-driving technology, with the balance supporting AI research and general corporate use.
WeRide’s offering likewise underscores ambitions to scale robotaxi operations.
Its founder and chief executive Tony Han Xu highlighted what he termed the “huge economic and social benefits” of safe and reliable autonomous driving and confirmed that about 40 percent of the funds raised would enhance the company’s technology stack and accelerate fleet deployment and global expansion, including in Europe, Singapore and Japan.
Despite the successful capital-raises, both stocks fell on debut trading—Pony AI shares dropped around nine per cent and WeRide roughly ten per cent—a reflection of investor caution in a crowded listing market and questions about near-term profitability in the robotaxi space.
Analysts note that while autonomous mobility is a high-growth theme aligned with China’s industrial strategy, it remains a capital-intensive business with long lead-times to scale.
The dual listings also reflect a broader trend of U.S.-listed Chinese tech firms securing secondary or dual listings in Hong Kong, driven by regulatory uncertainty in the United States and the city’s rising prominence as a global listing venue.
For Hong Kong’s capital markets, the arrival of two high-profile autonomous-driving listings bolsters its credentials as a destination for next-generation mobility technology firms seeking global scale.
With the offering proceeds now committed, both Pony AI and WeRide are entering a critical commercial phase: scaling fleets, refining autonomous systems, and proving business models beyond pilot operations.
How they execute in the coming three to five years will determine whether their ambitious capital-market valuations are justified.







































