Self-Driving Startup Pony.ai Said to Plan to Publicly File for US IPO This

(Bloomberg) — Autonomous driving startup Pony.ai plans to file publicly for an initial public offering in the US as soon as this week, according to people familiar with the situation.

Most Read from Bloomberg

The company is looking to raise as much as $300 million from the listing, the people said, asking not to be identified discussing a private matter. Guangzhou Automobile Group, a top Chinese automaker and backer of another self-driving car company, WeRide Inc., is considering investing in the IPO, the people said.

The timeline and size of the IPO could still change, the people said.

Pony.ai had considered selling shares in the US in 2021 but put that plan on hold, Bloomberg News reported at the time.

Representatives from Pony.ai and GAC, as Guangzhou Automobile Group is known, declined to comment.

Founded in Silicon Valley in 2016, Pony.ai develops and operates self-driving fleets in the US and China. Its vehicles include trucks and robotaxis. In December, it received a permit to provide fare-charging, fully driverless taxi services in Guangzhou.

GAC last week approved a $27 million investment by one of its units in Pony.ai, saying it would deepen collaboration and promote its development of autonomous driving.

Pony.ai’s backers include Toyota Motor Corp. and Saudi Arabia’s Neom Co. China’s securities regulator approved the New York IPO in April as Beijing loosened its clampdown on domestic tech companies trying to list overseas.

–With assistance from Linda Lew.