Chinese autonomous driving domain controller supplier iMotion files for IPO in Hong Kong

Beijing (Gasgoo)- On April 4, iMotion (Suzhou) Co. Ltd., a Chinese Tier1 supplier of autonomous driving products, submitted an application to the Hong Kong Stock Exchange for an initial public offering (IPO). 

Photo credit: iMotion

The company, which was founded in December 2016, specializes in factory-installed solutions for autonomous vehicles, such as intelligent front-facing cameras and domain controllers for Level 1 to Level 4 autonomous driving systems. To date, iMotion has gone through six rounds of financing, and its early investor, Li Auto, currently holds a 5.58% stake.

According to the company’s prospectus, iMotion is the second-largest third-party provider of autonomous driving domain controllers in China, with a market share of 26.2%. The company has delivered more than 100,000 autonomous driving domain controllers so far, and the majority of its income comes from selling its autonomous driving solutions and products to automakers. 

Up to now, iMotion has secured letters of intent from 14 automakers for the company’s domain controller and iFC products, including major players such as Geely, SAIC-GM-Wuling, Great Wall Motor, Chery Auto, Dongfeng Motor, and XPeng, with Geely Auto being the company's largest client.

Between 2020 and 2022, iMotion's revenue grew from 47 million yuan to 1.78 billion yuan, then to 13.26 billion yuan. However, losses over the same period amounted to 54 million yuan, 464 million yuan, and 342 million yuan, respectively.