Deutsche Bank backs Momenta as Pony.ai-Uber launches 2,000 robotaxis

Deutsche Bank has thrown its weight behind China's autonomous-driving ambitions, initiating coverage of Momenta with a Buy rating and a HK$400 price target — a 49% upside from its Friday close of HK$268.40. Analyst Bin Wang called Momenta the “No 1 independent autonomous-driving solution provider globally,” highlighting its 64.5% market share in the urban navigation-on-autopilot (NOA) segment and partnerships with nine of the top 10 global automakers. Strategic shareholders include Mercedes-Benz, Toyota, and GM. Momenta raised roughly HK$5.9 billion (US$752 million) in its Hong Kong IPO a month ago. The bullish call follows Momenta's recent regulatory breakthrough: approval to test Level 4 autonomous systems on urban roads nationwide in Germany. Level 4, or "high automation," is the standard used for commercial robotaxi services, positioning Momenta for direct deployment in one of Europe's largest markets.

In parallel, Pony.ai — backed by Baidu — announced an expansion of its strategic partnership with Uber to accelerate autonomous-vehicle rollouts in Europe. Under the plan, Pony.ai will supply Level 4 self-driving technology and operational expertise, with more than 2,000 robotaxis to be deployed across five European cities. This builds on an existing collaboration and signals a serious push by Chinese AV firms to establish a foothold in the West, bypassing regulatory hurdles at home and tapping into Uber's massive ride-hailing network. Combined, these developments show a two-pronged Chinese strategy: Momenta selling software and systems to global automakers, while Pony.ai operates robotaxi fleets through strategic alliances. Both face regulatory, safety, and competitive challenges, but the momentum is clear — European roads are becoming a proving ground for China's autonomous-driving industry.