Chinese mobile transport app hits the Hong Kong Stock Exchange

Ontime, a Chinese mobile transportation service provider, debuted its listing on the main board of the Hong Kong Stock Exchange on Wednesday, becoming the first stock in autonomous driving operation technology.

The company, established by automobile manufacturer GAC Group and technology giant Tencent in 2019, with self-driving solutions provider Pony.ai as a strategic shareholder, offers mobility services including ride-hailing and robotaxi, technical services of artificial intelligence data and model solutions and high-definition maps.

The company, based in Guangzhou, the capital of Guangdong province, also provides a full range of support for drivers and fleet operators in terms of vehicle sales and maintenance.

"We will continue to deepen our presence in the autonomous driving sector by serving and connecting various participants in the mobility industry, aiming to accelerate the realization of large-scale commercial deployment of autonomous driving technology," said Jiang Hua, CEO of Ontime.

As a pioneer in driving and the commercialization of autonomous driving technology, Ontime launched an open robotaxi operation technology platform in 2022, becoming the world's first mobility platform to commercialize a mixed operation of manned ride-hailing and robotaxi services.

The company's robotaxi service is already operational in the central districts of Guangzhou and Shenzhen, two major cities in the Guangdong-Hong Kong-Macao Greater Bay Area.

As of 2023, the company's robotaxi fleet has reached 281 vehicles, ranking first among domestic mobility platforms, with its services having operated for a cumulative total of 20,080 hours and completing a safe trial operation distance of 450,699 kilometers.