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Momenta and Pony.ai expand Europe autonomy after regulatory and partner wins
Deutsche Bank raised its target price for Momenta to HK$400 after the firm secured approval for nationwide Level 4 urban road testing in Germany, while Pony.ai plans more than 2,000 robotaxis across five European cities with Uber.
China’s autonomous-driving push is gaining momentum in Europe, with Deutsche Bank lifting its price target for Momenta after the company won a key regulatory approval for testing in Germany, and Pony.ai expanding its robotaxi rollout with Uber Technologies.
In a research note released Monday, Deutsche Bank analyst Bin Wang named Momenta the leading independent autonomous-driving solution provider globally, highlighting its 64.5 per cent market share in the urban “navigation on autopilot” segment. The bank also pointed to Momenta’s collaborations with nine of the top 10 global automakers and strategic shareholders including Mercedes-Benz, Toyota and GM.
The price target update follows Momenta’s approval to conduct nationwide urban-road testing of Level 4 autonomous-driving systems in Germany, a step tied to commercial robotaxi use. Deutsche Bank initiated coverage on the Hong Kong-listed company, which raised about HK$5.9 billion (US$752 million) in an IPO last month, setting a HK$400 target price versus Friday’s close of HK$268.40 and a “Buy” rating.
Separately, Pony.ai, backed by Baidu, announced an expansion of its strategic partnership with Uber, under which it will supply Level 4 autonomous-driving technology and operational experience. The plan calls for more than 2,000 robotaxis to be deployed across five European cities.