(Yicai Global) March 3 -- IMotion Automotive Technology, a Chinese autonomous driving startup that counts Li Auto as one of its investors, is considering an initial public offer in Hong Kong as soon as this year to raise from USD200 million to USD300 million.

The self-driving technology firm's IPO preparations are at an early stage so the scale and the schedule might change, Securities Times reported today, citing a source who wished to remain anonymous. CCB International, CitiBank, and Huatai Securities would help the hardware and software developer get ready for the listing, the report added.

The move marks a change of destination as Suzhou-based iMotion said in April 2022 after its C++ funding round that it will soon start pre-IPO financing to go public on Shanghai Stock Exchange's Star Market, according to the website of the Suzhou Industrial Park Science and Technology Innovation Committee. The chosen bourse has been altered for unknown reasons, per the news report.

Founded in 2016, iMotion has two product lines of autonomous driving domain controllers, which could be described as the "brain" of the car, and smart cameras. The company has had six rounds of fundraising, participated by Future Capital Discovery Fund, Yuecai Investment, and Afond Group.

Besides iMotion, companies including Saimo, WeRide, and Plus are also seeking listings in Hong Kong. Since last year, the autonomous driving industry has had more than 70 financing rounds, making it one of the hottest sectors for equity investments, according to the report.

Editor: Emmi Laine, Xiao Yi