Two of China’s biggest robotaxi start-ups fell as much as 15 per cent upon listing in Hong Kong on Thursday, as analysts raised concerns about profitability in an increasingly competitive sector.
Pony.ai and WeRide, which compete fiercely in China and are both backed by Uber, raised HK$6.7bn ($862mn) and HK$2.4bn respectively in their secondary offerings.
The two companies already trade on New York’s Nasdaq, but Chinese technology groups have considered listing closer to home on fears that US President Donald Trump’s administration might pursue delistings of Chinese companies.
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