It is reported that Pony.ai is considering an IPO in the United States as early as September. The company responded, "No comment."

date
23/07/2024
avatar
GMT Eight
According to media reports, informed sources revealed that autonomous driving unicorn company Pony.ai may go public on the US stock market as soon as September this year, and has already found institutional investors with a clear intention to invest in the IPO. In response to this, the company stated: "No comment." It is understood that Pony.ai was founded in 2016, with its main business including autonomous driving ride-hailing services, autonomous driving trucks, and passenger car intelligent driving. The company has R&D centers worldwide, including in Silicon Valley, Beijing, Shanghai, Guangzhou, and Shenzhen, and has obtained qualifications and licenses for autonomous driving testing and operations in many places in China and the US. On April 22, Pony.ai filed for an IPO in the US with the China Securities Regulatory Commission, and the company plans to list on either the NASDAQ or the New York Stock Exchange. According to Tianyancha data, as of April this year, Pony.ai has raised a total of nine funding rounds, with investors including Sequoia China, IDG Capital, Fosun Capital, Toyota, Kunlun Tech, and others. Pony.ai has not only attracted support from domestic capital, but also received investment from Middle Eastern capital. In October last year, Pony.ai received a $100 million investment from the Kingdom of Saudi Arabia's new future city NEOM and its investment fund NIF (NEOM Investment Fund). In the D round of financing in March 2022, Pony.ai's valuation reached $8.5 billion, while rival autonomous driving company WeRide's valuation was only $5.1 billion. Industry experts believe that the US has one of the world's most mature and deep capital markets, especially in the field of technology and innovative enterprises. The US stock market generally values high-growth potential companies at a higher level, and some of Pony.ai's shareholders are US dollar investors, mainly US institutions, so it is advantageous to go public in the US for cashing out. In recent years, autonomous driving companies have been rushing to go public. Momenta Technologies successfully listed on the Hong Kong Stock Exchange in December last year, while WeRide, DeepRoute.ai, Pony.ai, Horizon Robotics, and other companies have also submitted their prospectuses. Commercializing autonomous driving technology is a long-term process that requires patience and continuous investment; through going public, autonomous driving companies can obtain financial support to drive technological development and commercialization.

Contact: contact@gmteight.com