Chinese Robotaxi Giants WeRide and Pony.ai Plunge in Hong Kong Debut

Chinese autonomous driving company WeRide had a weak start on the Hong Kong Stock Exchange. The company’s shares opened down about 8% on its trading debut. This poor performance followed a similar drop for its rival, Pony.ai. Combined, the two robotaxi firms raised nearly $1.2 billion in their share offerings.

WeRide raised roughly $308 million from its listing. Pony.ai, the larger listing, saw its shares slide by nearly 11% in early trade. The weak debuts happened despite the broader Hang Seng Index posting a slight gain. This suggests specific concerns about the technology sector.

Company executives were quick to reassure investors. WeRide’s CEO stated that short-term fluctuations will not affect long-term development plans. The funds will support hiring, global expansion, and building sales networks. However, the drop signals growing investor caution about high valuations in the artificial intelligence and robotaxi sectors.