China's Robotaxi Showdown: Pony AI and WeRide Crash on $1.1 Billion Hong Kong Debut
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China's robotaxi firms Pony AI and WeRide debuted in Hong Kong, raising over $1.1 billion but saw their stock prices drop by 15%. The decline reflects investor concerns over tech valuations and market timing. Despite the rocky start, analysts see long-term potential in both companies as they expand into global markets. The rivalry between the two firms intensified during their simultaneous listings, with accusations exchanged between their CEOs. Analysts suggest this could be the beginning of China's rise in the autonomous-driving sector.
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