Uber to Invest Over $10 Million in Pony.ai's IPO
Ride-hailing giant Uber Technologies is planning to invest more than $10 million in the initial public offering of Pony.ai, an autonomous driving startup with Chinese roots. According to a Bloomberg report cited by TechNode, Uber may also explore partnering with Pony.ai to utilize its self-driving technology in markets outside the United States. Pony.ai, headquartered in Fremont, California, and Guangzhou, China, aims to raise approximately $260 million by issuing 20 million American depository shares on Nasdaq, priced between $11 and $13 per share. This move follows Uber's recent participation in the IPO of rival autonomous vehicle company WeRide, which raised over $440 million last month. Co-founded by former Baidu engineers, Pony.ai currently operates a fleet of more than 250 autonomous ride-hailing vehicles in major Chinese cities such as Beijing and Shenzhen. The company previously secured $400 million in funding from Toyota in 2020, with the Japanese automaker retaining a 12.3% stake. This investment highlights continued strategic interest from major tech and transport firms in the rapidly evolving autonomous vehicle sector.
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Uber to Invest Over $10 Million in Pony.ai's IPO
Ride-hailing giant Uber Technologies is planning to invest more than $10 million in the initial public offering of Pony.ai, an autonomous driving startup with Chinese roots. According to a Bloomberg report cited by TechNode, Uber may also explore partnering with Pony.ai to utilize its self-driving technology in markets outside the United States. Pony.ai, headquartered in Fremont, California, and Guangzhou, China, aims to raise approximately $260 million by issuing 20 million American depository shares on Nasdaq, priced between $11 and $13 per share. This move follows Uber's recent participation in the IPO of rival autonomous vehicle company WeRide, which raised over $440 million last month. Co-founded by former Baidu engineers, Pony.ai currently operates a fleet of more than 250 autonomous ride-hailing vehicles in major Chinese cities such as Beijing and Shenzhen. The company previously secured $400 million in funding from Toyota in 2020, with the Japanese automaker retaining a 12.3% stake. This investment highlights continued strategic interest from major tech and transport firms in the rapidly evolving autonomous vehicle sector.
TechNode