BYD-Backed Autonomous EV Mining Truck Maker Files For Hong Kong IPO
Benzinga
Shanghai-based Boonray Intelligent Technology, backed by BYD and other major investors, has filed for a Hong Kong IPO after raising $165 million in pre-IPO funding. The company is a leading provider of autonomous electric mining trucks, with 145.6% revenue growth in 2024 and over 9x growth in the first nine months of 2025. The autonomous mining truck sector is projected to expand 64.2% annually through 2030, though all three major Chinese competitors (Boonray, Eacon, CiDi) are currently unprofit...
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