Pony.ai to File for $300M U.S. IPO | Self-Driving Startup Backed by Toyota and GAC

Self-driving technology startup Pony.ai is preparing to go public in the U.S., with plans to file for an Initial Public Offering (IPO) as early as this week. The company, which specializes in autonomous vehicles, aims to raise up to $300 million through the listing, according to sources familiar with the situation. Guangzhou Automobile Group (GAC), a leading Chinese automaker and investor in the autonomous driving sector, is considering investing in the IPO as well.

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Key Details About Pony.ai’s U.S. IPO

Pony.ai had initially considered going public in the U.S. in 2021, but the plan was put on hold. Now, with the growth in its self-driving technologies and expanding operations, the company is ready to move forward with the IPO. The timing and the total amount raised from the IPO could still change depending on market conditions, according to insiders.

Guangzhou Automobile Group, which is also an investor in another self-driving startup, WeRide Inc., is looking to participate in the IPO. However, no official comments have been made by either Pony.ai or GAC.

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What is Pony.ai?

Founded in 2016 in Silicon Valley, Pony.ai has quickly become one of the leading companies in the autonomous vehicle industry. The startup operates fleets of self-driving vehicles, including both trucks and robotaxis, in the U.S. and China. Last December, the company achieved a major milestone by securing a permit to offer fully driverless taxi services in Guangzhou, China. This made Pony.ai one of the few companies globally to provide fare-charging robotaxi services without any human driver behind the wheel.

GAC’s Growing Investment in Pony.ai

Guangzhou Automobile Group has been increasingly involved in the development of autonomous driving technologies. Just last week, one of its units approved a $27 million investment in Pony.ai. The aim of this investment is to deepen collaboration between the two companies and support the continued advancement of self-driving technologies. GAC’s participation in the IPO would further strengthen the partnership.

Major Investors and Support

Pony.ai has attracted significant investments from other high-profile backers, including Toyota Motor Corp. and Saudi Arabia’s Neom Co., a futuristic mega-city project. These partnerships highlight the growing interest in autonomous driving and Pony.ai’s leadership in the space.

A Revived IPO Plan

The company had previously planned to sell shares in 2021 but paused those plans due to market conditions. Now, Pony.ai is reviving its IPO efforts as interest in self-driving technology surges. Earlier this year, China’s securities regulator approved the New York IPO as Beijing began relaxing its restrictions on domestic tech firms seeking to raise capital overseas. This regulatory shift has allowed Pony.ai to proceed with its plans to go public in the U.S.

The Future of Autonomous Driving

Pony.ai’s IPO comes at a time when the autonomous driving market is gaining significant traction, both in the U.S. and internationally. The company is at the forefront of developing the technology that could transform transportation in the near future. From driverless trucks to robotaxis, Pony.ai is working to expand its footprint and continue to lead innovation in the autonomous driving sector.

iShook Expert's Thoughts on the Pony.ai IPO

With growing global interest in self-driving vehicles, Pony.ai’s decision to file for a U.S. IPO marks a critical moment for both the company and the autonomous driving industry. Investors will be watching closely as the startup looks to raise substantial capital to fund its future growth and technological developments.

This IPO also underscores how important autonomous driving is becoming, not just in terms of technological advancements but also in shaping the future of transportation around the world.

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