Pony.ai goes public on Nasdaq

Beijing (Gasgoo)- On November 27 (Eastern Standard Time), Pony.ai officially started trading on the Nasdaq Stock Market under the ticker symbol "PONY," which marked a milestone as the "world's first Robotaxi stock."  

The autonomous driving company issued 23 million American Depositary Shares (ADS), each representing one ordinary share, at the upper end of its price range, $13 per share. If underwriters exercise their over-allotment option, the total raised through this IPO could reach $299 million, making it the largest IPO in the autonomous driving sector on the U.S. stock market this year so far. Additionally, through a concurrent private placement of approximately $153.4 million in ordinary shares, Pony.ai's total fundraising from the IPO is expected to reach $452 million.

Pony.ai launched its Robotaxi service in 2018 and is recognized as a main player in autonomous driving technology and operations. It is among the first companies in China to secure permits for unmanned mobility services in Beijing, Shanghai, Guangzhou, and Shenzhen cities. Notably, Pony.ai remains the only autonomous driving firm to obtain all categories of Robotaxi regulatory approvals across these four major cities.  

The company's proprietary "virtual driver" technology powers its solutions across various use cases, including Robotaxi (autonomous ride-hailing services), Robotruck (autonomous trucking), and licensing of its technology. To date, Pony.ai has accumulated nearly 40 million kilometers of global autonomous driving testing distance, including 4 million kilometers under fully unmanned conditions.