Shares of the Chinese company Pony.ai fell by more than 14% on Thursday, while its competitor WeRide's shares dropped by about 12% as the two autonomous driving companies began trading in Hong Kong. Pony.ai and WeRide, which are already listed in the United States, raised HK$6.71 billion (approximately $860 million) and HK$2.39 billion, respectively, during their initial public offerings (IPOs). The companies are striving to keep up with larger competitors like Baidu's Apollo Go in China and Alphabet's Waymo in the US amid growing interest in autonomous driving technologies.
