AutoX may go public in the US as early as September, sources say. The company responded, "no comment."
According to media reports, insiders revealed that the autonomous driving unicorn Pony.ai may go public in the US as early as September this year, and has already found institutional investors with clear IPO investment intentions. The company responded that "we have no comment on this".
Pony.ai was founded in 2016 and its main businesses include autonomous driving ride-hailing services, autonomous truck and car driving, etc. The company has set up research centers worldwide, including Silicon Valley, Beijing, Shanghai, Guangzhou and Shenzhen, and has obtained autonomous driving testing and operation qualifications and licenses in China and the US.
Pony.ai's IPO in the US was approved by the China Securities Regulatory Commission on April 22. The company plans to list on the Nasdaq Stock Market or the New York Stock Exchange. According to information from Tianyan Check, as of April this year, Pony.ai has raised a total of nine rounds of financing, with investors including Redpoint China Ventures, IDG Capital, Wenyuan Capital, Toyota Motor, Wanda Group, etc.
Pony.ai has not only attracted the support of domestic capital, but also received the support of Middle East capital. In October last year, Pony.ai received a $100 million investment from NEOM and its investment fund NIF (NEOM Investment Fund) of the Kingdom of Saudi Arabia. In the D round of financing in March 2022, Pony.ai's valuation reached $8.5 billion, while Wener Knowledge's valuation was only $5.1 billion.
Some people believe that the US has one of the most mature and deep capital markets in the world, especially in the field of technology and innovative enterprises. The US stock market usually values companies with high growth potential higher, and Pony.ai's shareholders include some US investors, so listing in the US is more conducive to capital turnover.
In recent years, autonomous driving companies have been flocking to go public. In December last year, Knowhow Technology successfully listed on the Hong Kong Stock Exchange, and Wener Knowledge, Likeqi, Vision Technology, Horizon, Black Sesame Intelligence and other autonomous driving enterprises also submitted their prospectuses. The commercialization of autonomous driving technology is a long process that requires patience and continuous investment. By listing, autonomous driving companies can obtain funding support to promote technological development and commercialization progress.