China Auto Daily丨Horizon Robotics Makes a Strong Debut on Hong Kong Stock Exchange

China's October Passenger Car Retail Market Shows Strong Growth

The China Passenger Car Association (CPCA) has projected robust performance for October 2024. The narrow-scope passenger car retail market is expected to reach 2.2 million units, reflecting an 8.2% year-on-year increase and a 4.3% month-on-month growth. Notably, the new energy vehicle (NEV) retail market is anticipated to hit 1.15 million units, growing 2.4% month-on-month, with a penetration rate of approximately 52.3%.

CATL Unveils Groundbreaking Freevoy Super Hybrid Battery

On October 24, CATL introduced the world’s first hybrid battery capable of over 400 kilometers of pure electric range together with 4C supercharging capabilities. Dubbed the " Freevoy (骁遥 in Chinese) Super Hybrid Battery," it leverages CATL’s sodium-ion technology.

In terms of specifications:

- Electric Range: More than 400 km

- Charging Efficiency: 10-minute charge provides over 280 km range

- Temperature Resistance: Can discharge at temperatures as low as -40°C

Horizon Robotics Makes a Strong Debut on Hong Kong Stock Exchange

Horizon Robotics, a leading player in autonomous driving technology, officially listed on the Hong Kong Stock Exchange's main board on October 24. The IPO raised HK$5.407 billion, marking it as the largest tech IPO in Hong Kong this year.

On its first day of trading, Horizon Robotics-W opened at HK$5.12 per share, representing a substantial 28.32% increase from its initial offering price. This strong market debut underlines investor confidence in the company’s prospects in the burgeoning autonomous driving technology sector.

WeRide Resumes Its US IPO Plans

On October 24, WeRide, a prominent player in the autonomous vehicle industry, announced the resumption of its plans for a US IPO. According to documents submitted to the US Securities and Exchange Commission on October 21, WeRide plans to offer 6.45 million American Depository Shares (ADS) within a price range of $15.50 to $18.50 per share, targeting a maximum raise of $119.4 million.

Additionally, the company intends to issue shares worth up to $320.5 million to specific investors through a private placement. Previously, WeRide had postponed its IPO partly to complete the necessary filings with US regulatory authorities.