According to reports, Beijing Chushiduo Technology plans to transfer to Hong Kong to apply for an IPO

According to Reuters, citing informed sources, mainland autonomous driving technology research and development company Beijing Momenta Technology Co., Ltd. has secretly submitted an application for an initial public offering (IPO) in Hong Kong, abandoning its plan to list in New York.

Earlier reports indicated that due to the expiration of the listing permit granted by Chinese securities regulators for U.S. listings in June, Momenta is considering moving its IPO location from New York to Hong Kong.

Information shows that Momenta's investors include Japan's Toyota Motor Corporation and German automotive parts supplier BOSCH