Chinese self-driving developer Beijing Momenta Technology Co. reportedly filed for an initial public offering (IPO) in the United States.
New of Momenta’s potential IPO in the United States comes as Tesla robotaxi tests in China gain support from the local government. Tesla’s Full Self-Driving (FSD) tech appears to be openly welcomed in China. Momenta’s self-driving tech might not get the same reception in the United States.
In fact, the Chinese self-driving firm might not push through with the IPO in the US, given the country’s perception of companies related to China, specifically its government. China has been designated a “Foreign Entity of Concern (FEOC) under the Inflation Reduction Act (IRA).
Momenta is backed by General Motors, one of the top 3 automakers in the…
Read the full article originally published at www.teslarati.com.