Momenta, a Chinese autonomous vehicle startup backed by General Motors and SAIC, is looking to raise $1 billion in a US or Hong Kong initial public offering, despite waning investor confidence underpinned by slower than expected progress. The company is interviewing banks to handle the public listing, which could take place as early as this year, Reuters publication International Financing Review reported on Monday. Investors’ patience has been drying up in the field, with the global mobility sector attracting $5.5 billion in investment in the third quarter of 2022, down 79% from a year earlier, according to figures compiled by financial services firm PitchBook. [The Standard]