History
2024: Going public
On October 17, 2024, the Chinese self-driving taxi developer Pony AI, supported by Toyota Corporation, announced an (IPO) in the United States. It is expected that following the completion of the procedure, the startup will receive up to $300 million.
The Pony AI firm was founded in Silicon Valley in 2016. It develops and operates self-driving car fleets in the United States and China. Her vehicles include trucks and robotic taxis. At the time of raising funding in 2022, Pony AI was valued at $8.5 billion.
According to Reuters, Pony AI is listed on the Nasdaq exchange under the ticker symbol "PONY." Goldman Sachs, BofA Securities, Deutsche Bank, Huatai Securities and Tiger Brokers take part in the procedure.
Previously, Pony AI received $100 million for development from the Neom Investment Fund (NEOM), a development project for the territory located in the extreme northwest of Saudi Arabia. The agreement provides for the formation of a joint venture in the field of self-government technologies. The new framework will design, manufacture and supply autonomous driving services, advanced vehicles and smart car infrastructure in the Middle East and North African markets.
Pony AI says its fleet as of October 2024 has more than 250 robotaxis that have covered over 33.5 million km in autonomous mode, including more than 3.9 million km without an insured driver. Despite these advances, analysts and industry experts believe it could take years to introduce fully self-driving taxis - primarily due to safety and reliability issues.[1]
2022: Start of mass production of unmanned trucks
At the end of July 2022, the Chinese company Pony.ai announced a joint venture with Sany Heavy Truck, a subsidiary of Chinese heavy equipment manufacturer Sany Heavy Industry, with the aim of creating a brand of self-driving trucks. The partners announced the creation of the production of such vehicles, within the framework of the project it is planned to release 10 thousand trucks with autopilot per year.
According to the plan, the "virtual driver" will Pony.ai be used in combination with Sany's experience in the production of trucks to implement a project to create self-driving trucks with autonomy level 4, meaning that the vehicle can autonomously operate in various conditions without the participation of the driver. The joint venture's autonomous truck lineup will be made up of "new energy trucks," such as electric trucks, as well as diesel-powered trucks, the company said.
 | Cooperation between Sany and Pony.ai is the maximum degree of combining the "body" and "brain" of a truck, which will make mass production of high-level autonomous trucks a reality, Liang Linhe, chairman of the board of directors of Sany Heavy Truck, said in an official statement. |  |
The companies have begun road testing the first model of the joint venture, which was built on the basis of Sany's new electric truck platform, according to representatives of Sany and Pony. Like all future joint venture autonomous trucks, the prototype has a Pony autonomous driving controller based on Nvidia's Drive Orin self-driving toolkit.[2]
Notes
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