Chinese autonomous driving startup Pony AI seeks IPO in US
SAN FRANCISCO -- Chinese self-driving technology company Pony AI is seeking up to $224 million in IPO in the United States, according to the company's filing on Thursday.
Pony AI said it operates a fleet of 190 "robotrucks" in Beijing and Guangzhou and more than 250 robotaxis in Beijing, Guangzhou, Shenzhen, and Shanghai.
The company said it can charge for robotaxi fares in all four cities and is fully driverless in Beijing, Guangzhou, and Shenzhen, according to a report by TechCrunch.
U.S. investors appear to have a growing appetite for Chinese technology companies, the report said.
Chinese electric vehicle startup Zeekr debuted on the New York Stock Exchange in May with $441 million in gross proceeds.
WeRide, another Chinese autonomous vehicle startup, debuted on the Nasdaq in October, raising $440.5 million in its IPO and private placement.
Pony AI said it plans to issue 15 million American Depository Shares, with the possibility of issuing 2.25 million more if demand is high, at an expected price range of between $11 and $13 per share. At $13, that would value the company at $4.48 billion, based on the offering of 344.9 million shares.
