With Gasgoo Daily, we will offer daily important automotive news in China. For those we have reported, the title of the piece will include a hyperlink, which will provide detailed information.
Momenta Launches Hong Kong IPO
Chinese self-driving technology start-up Momenta launched a Hong Kong initial public offering on June 29, seeking to raise up to HK$5.89 billion ($751 million).
Priced at HK$295.60 per share, the offering covers roughly 19.9 million shares. At that price, Momenta would be valued at the equivalent of nearly $9 billion. Trading is slated to begin July 8.
Momenta has secured 14 cornerstone investors with combined commitments of about HK$2.94 billion ($375.75 million), equivalent to roughly half of the total offering size. GIC and Fidelity International each committed $100 million, while BlackRock, Oaktree and Franklin Templeton also joined the deal. Strategic investors include Mercedes-Benz, BYD's investment arm Golden Link, and GigaDevice Semiconductor, alongside Chinese institutions including Gaoyi, Boyu, ChinaAMC, GF Fund and CPIC.
The company said about 60% of the IPO proceeds will go toward research and development, while 20% will support the commercialization of robotaxi solutions.
XPENG unveils X-Mind framework to advance predictive AI for autonomous driving
XPENG has introduced its new X-Mind technology framework, designed to enhance the predictive reasoning capabilities of AI models used in autonomous driving. Built around an embedded predictive world model, the framework enables an in-vehicle AI agent to perform an efficient visual chain of thought before making driving decisions.
According to the company, X-Mind bridges the long-standing gap between advanced cognitive reasoning and real-time onboard computing, creating a new technical approach toward safer and more human-like autonomous driving.
At the heart of X-Mind is the goal of enabling AI to "think faster and think more clearly." Instead of relying on a reactive black-box mapping from perception to action, the framework introduces explicit predictive reasoning that allows developers to visualize how the model reaches its decisions. According to XPENG, making the reasoning process transparent is as important as improving the model's intelligence.
Lynk & Co 07 GT Launches with Pre-orders Starting at ¥165,800
Geely Auto's Lynk & Co brand has opened pre-sales for its first wagon, the 07 GT, marking the brand's formal entry into a new segment.
The hybrid model made its official debut at a Lynk & Co event on June 29, with a pre-sales price range of 165,800 yuan to 185,800 yuan.
The model comes in three regular variants, covering both two-wheel-drive and four-wheel-drive versions. In addition, Lynk & Co has introduced a "Time Limited Edition," capped at 1,007 units, with a guide price of 208,800 yuan.
The new car is built on the CMA (Compact Modular Architecture) and the EM-P intelligent hybrid platform. It is equipped with a 28.3 kWh battery, and the two-wheel-drive version offers a combined CLTC range of up to 1,422 kilometers.
The performance-oriented four-wheel-drive version delivers a combined maximum system power of 390 kW (523 hp), with zero-to-100 km/h acceleration under five seconds.
The Lynk & Co 07 GT will officially go on sale in July.
