Pony AI, a company specializing in driverless vehicles with offices in China and the United States, has filed for listing to prepare to take its IPO to the US stock market.
The filing specifies that the company will enter the NASDAQ stock market using the abbreviation PONY for stock trading, but has not disclosed additional details on the stocks offered, stock price, and company valuation.
In the first half of 2024, Pony AI recorded revenue of $24.7 million, a significant increase from the same period the year before, despite a decreased net loss of $51.3 million. The company boasts a fleet of over 250 driverless taxis, covering a total distance of 33.5 million kilometers, with 3.9 million kilometers driven autonomously without a safety driver.
Pony AI is the first driverless taxi service provider to be licensed in China, with key investor Toyota currently holding a 13.4% stake in the company.
Source: Tech Startups
TLDR: Pony AI, a driverless vehicle company, has filed for listing on the NASDAQ stock market with plans for an IPO, showcasing impressive revenue growth and a strong foothold in the driverless taxi industry.
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