WeRide and Pony.ai Experience Significant Share Declines After $1.2 Billion Hong Kong IPOs
- ByStartupStory | November 6, 2025
Chinese autonomous vehicle startups WeRide and Pony.ai faced steep losses on their Hong Kong Stock Exchange debuts, raising combined proceeds exceeding $1.2 billion but witnessing sharp share price declines amid market skepticism.
WeRide, which completed its dual listing on the Hong Kong and Nasdaq exchanges, raised approximately HK$2.39 billion (about $308 million) by pricing its shares at HK$27.10 each. Despite this successful raise, WeRide’s shares plunged nearly 14% shortly after trading began, continuing a downward trend with a loss of over 40% in value since its U.S. IPO in late 2024. The company aims to use the funds to develop autonomous driving technology, scale its robotaxi commercialization, enhance products and solutions, and expand overseas operations.
Pony.ai also debuted on the Hong Kong exchange the same day, raising HK$6.7 billion (approximately $860 million). Its shares dropped 14.4% after debut. Both companies have emphasized their global growth aspirations, operating or piloting autonomous vehicle services in multiple countries and focusing on commercial deployment of Level 4 autonomous driving systems.
The market reaction reflects broader investor caution regarding the autonomous vehicle sector, including concerns over regulatory hurdles, technology readiness, and profitability timelines. Industry experts have highlighted that China is still developing infrastructure and regulatory frameworks necessary for mass deployment of robotaxi services.
WeRide’s Founder, Chairman, and CEO Tony Han, formerly a chief scientist at Baidu’s autonomous vehicle unit, emphasized the company’s commitment to advancing safety and reducing accident rates through self-driving technology. He also committed to a three-year share lockup to underscore confidence in the company’s long-term prospects.
Despite the initial share price volatility, both companies are pursuing aggressive R&D and international expansion, seeking to capitalize on the anticipated global growth of autonomous mobility solutions.
In summary, WeRide and Pony.ai’s $1.2 billion Hong Kong IPOs provide them with capital for technology development and commercial expansion but face immediate market challenges reflected in significant share price declines during their trading debuts.
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