Chinese autonomous driving company Pony Intelligence has officially launched the IPO process and plans to be listed on Nasdaq with the stock code "PONY", striving to become the world's first Robotaxi stock. The IPO plans to issue 15 million American depositary shares (ADS), with a pricing range of US$11 to US$13 per share, with a maximum fundraising amount of US$378 million. BAIC Group and Singapore Comfort High School both expressed their intention to subscribe, and other investors will also participate in the strategic targeted share issuance to inject more funds into the development of Pony Intelligence.
Pony Smart plans to use 40% of the funds raised by the IPO to the commercialization and market expansion of autonomous driving travel and freight services, 40% to the research and development and investment of autonomous driving technology, and the remaining 20% to potential strategic investment and acquisitions. In the first three quarters of 2024, Pony Intelligence Bank's revenue increased by 85.5% year-on-year, and revenue from autonomous driving travel services, freight services, and technology authorization and application services all achieved significant growth. Pony Sinica has established strategic partnerships with several auto manufacturers to jointly promote the development of Robotaxi technology and market application.
During this IPO, Pony Sinica received financial support from several automakers, which will further promote the research and development and commercialization of its autonomous driving technology. Pony Intelligence and BAIC New Energy cooperate to develop L4 driverless models and plan to launch thousands of Robotaxis to the domestic market, demonstrating its strong strength and development potential in the field of autonomous driving.
Points:
Pony Intelligence has started its IPO and plans to go public on Nasdaq, raising up to US$378 million.
The main funds will be used for the commercialization of autonomous driving services and the development of technology.
Several auto manufacturers participated in the subscription to promote Robotaxi's technical cooperation and global layout.
The success of Pony Intelligence's IPO will have a profound impact on China's autonomous driving industry and also indicate the acceleration of the commercialization of autonomous driving technology. This financing will help Pony Mak to make greater breakthroughs in technology research and development and market expansion, laying a solid foundation for its future development. We will wait and see how Pony Intelligence will perform in the global autonomous driving field.