Written by Akimoto Yukiko | Edited by Cláudio Afonso
China’s autonomous driving (AD) company Pony.ai is planning to IPO in the U.S. as early as September this year.
In recent months, there have been numerous rumors and confirmed plans of autonomous driving companies preparing for IPOs. Earlier this week, EV reported that Pony.ai’s competitor, WeRide, is also considering an IPO on the New York Stock Exchange (NYSE) by the end of August.
When contacted by the local media Jiemian, Pony.ai declined to comment on the report.
Founded in 2016 by a former Baidu Autonomous Driving employee, Pony.ai has established R&D centers in Silicon Valley, Beijing, Shanghai, Guangzhou, and Shenzhen. The company has obtained autonomous driving testing and operation licenses in various locations in China and the U.S.
Earlier this month, at the 2024 World Artificial Intelligence Conference, the company received one of Shanghai’s first permits for the demonstration of driverless vehicles.
Last month, the chief executive James Peng announced at an event in London that the company would establish a research and development center in Luxembourg.
Since Pony.ai’s establishment, it has completed nine rounds of financing, raising over $1.1 billion. The company’s current valuation stands at $8.5 billion.
The company’s investors include notable venture capital firms such as Sequoia China, IDG Capital, Legend Capital, and CICC Capital.
In October 2023, Pony.ai announced a $100 million investment from Saudi Arabia’s NEOM and its investment fund, NIF (NEOM Investment Fund).
Furthermore, the firm will set up a Robotaxi fleet, autonomous driving production, and R&D center in Saudi Arabia.
Currently, around 200 robotaxis, based on the Lexus RX450h and Toyota Sienna models, are providing autonomous driving mobility services through Pony.ai’s platform in Beijing, Guangzhou, Shenzhen, and Shanghai.
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Written by Akimoto Yukiko | Edited by Cláudio Afonso
