Pony.ai, a Chinese autonomous driving company that is setting up a large autonomous driving fleet and a global research and development center in the Beijing Economic-Technological Development Area (Beijing E-Town), has been listed on the Nasdaq in the United States with the stock symbol "PONY".

After increasing the size of the offering, if the underwriters fully exercise their over-allotment option, Pony.ai, priced at $13 per share, will issue 23 million American Depositary Shares, raising up to $299 million and making it the largest IPO in the U.S. autonomous driving sector this year.

Pony.ai, founded in 2016, provides autonomous driving technology and solutions in the transportation and logistics sectors. It is one of a very few companies globally bringing fully autonomous driving to the market.

Up to now, Pony.ai has continuously generated revenue in the autonomous driving ride-hailing service (Robotaxi), autonomous driving freight services (Robotruck), and technology licensing and application services. It is a global leader in the commercialization of the autonomous driving industry. Its core technology involves creating a "virtual driver" that is adaptable to different vehicle types and scenarios. Through its extensive road testing data and iterative training with AI models, Pony.ai has become able to handle a variety of scenarios that are highly challenging and commercially valuable.

Pony.ai co-founder and CEO James Peng said, "Since its founding in 2016, Pony.ai has grown to become a global leader in the large-scale commercialization and mass production of autonomous driving. Over the past eight years, Pony.ai has led the industry through cycles, relentlessly breaking through technological barriers. Now we have finally reached a crucial turning point in commercialization. With the dawn of autonomous driving ahead, we aim to create a future of transportation that is safer, more efficient and more convenient for society."

(Source: beijingetown.com.cn)