As the global automotive industry accelerates its intelligent transformation, China's high-level autonomous driving is entering the fast lane of overseas market expansion with formidable technological strength. Physical AI company Momenta stands as a typical representative of Chinese high-level autonomous driving going global. According to Zhitong Finance APP, on September 24, Momenta (06880) reached a global strategic partnership with Shenlong Technology. Leveraging the Momenta R7 world model, the two parties will jointly develop an advanced intelligent assisted driving system to be equipped on all-new mass-production models of Peugeot and Jeep, launching in China, Europe, and other global markets, helping mainstream brands under the Stellantis Group accelerate their global intelligent transformation. After the news was announced on September 28, Momenta shares surged nearly 6% on September 29, rising more than 7% during intraday trading. Meanwhile, well-known investment banks including Deutsche Bank and Bank of America Merrill Lynch are bullish on the Momenta-Stellantis collaboration, describing it as opening a new growth channel for Momenta. Deutsche Bank believes this partnership marks a key milestone in Chinese NOA technology being integrated into global vehicle programs. At the same time, it highlights a new globalization path for Momenta — exporting its advanced intelligent assisted driving system to overseas markets through partnerships with global automotive brands. Notably, Momenta is further moving toward directly providing overseas market solutions to global automakers.

"We believe that if Momenta succeeds in the Shenlong project, it could pave the way for further expanding its scope of cooperation and becoming a broader supplier within Stellantis' global vehicle portfolio. We reiterate our 'Buy' rating on Momenta," Deutsche Bank wrote. Bank of America Merrill Lynch believes this new partnership is an important milestone in Momenta's globalization expansion process, meaning Momenta's advanced intelligent driving technology has officially expanded to overseas mass-production models of established international automotive brands such as Peugeot and Jeep®. As the penetration rate of global high-level intelligent assisted driving systems continues to rise, the results achieved through domestic vehicle exports, combined with newly added multinational automaker projects, are expected to further consolidate Momenta's high-growth logic. At the same time, a broad foundation of automaker partnerships can support Momenta's continuously expanding overseas designated project pipeline. As jointly defined models successively enter mass production, Momenta's high-level autonomous driving system will leverage the global market networks of leading international automakers to accelerate its journey from China to Europe and other overseas markets. This will not only bring cutting-edge intelligent mobility experiences to global users but also allow Momenta's world model to access a richer variety of international road scenarios.

According to authoritative industry research institution CIC Insight Consulting, in 2025, the global and Chinese markets for L2-level highway NOA / L2-level urban NOA assisted driving and higher-level intelligent driving reached approximately US$20.4 billion and US$13 billion respectively, and are expected to expand to US$305.9 billion and US$166.6 billion by 2030, with compound annual growth rates of 71.9% and 66.5% respectively. This enormous market space brings growth opportunities for leading third-party suppliers including Momenta. At the same time, intelligent driving as software naturally possesses "high-margin" attributes, and high revenue and high gross margins are expected to continue supporting Momenta's rapid growth. Momenta's latest financial report shows that in the first half of 2026, both revenue and gross profit hit historical highs: operating revenue of 1.60 billion yuan, up 76% year-on-year; excluding share-based compensation expenses, gross profit of 1.21 billion yuan, up 75% year-on-year, with a gross margin of 75%, maintaining an industry-leading level.

Currently, Momenta has established partnerships with all of the world's top 10 automakers. Jointly developing high-level autonomous driving with mainstream international brands and supporting their global intelligent transformation will become an important path for Momenta's globalization. As overseas scenario data continues to flow back, Momenta's underlying algorithms will further complete generalization and iteration under world-class real-world standards, entering a new phase of positive global growth. This overseas expansion path from "technology co-creation" to "global implementation" will further broaden Momenta's global commercial footprint.

The ability to accelerate global commercialization stems from Momenta's keen insight into the industry's time window. Thanks to China's industrial development and talent accumulation, China's intelligentization process leads the world by approximately 4 years. Industry forecasts suggest that China's urban NOA inflection point occurred in 2024, while the global inflection point is expected in 2028. Momenta's globalization precisely captures this "time gap" dividend. Momenta CEO Cao Xudong pointed out that the company is fully committed to preparing for the 2028 global inflection point, hoping to be "at least half a step ahead" of that timing to achieve leadership in the global market.