Pony AI is getting closer to its start-up offering in the United States but keeps lowering the money it needs to raise to make the deal possible
Pony runs a fleet of over 250 robotaxis in Beijing, Guangzhou, Shenzhen, and Shanghai, as well as 190 “robotrucks” in Beijing and Guangzhou. The company told TechCrunch that it can charge for robotaxi rides in all four cities. There are no drivers in Beijing, Guangzhou, and Shenzhen.
The Chinese company that makes technology for self-driving cars said in a filing on Thursday that it wants to sell 15 million American Depository Shares. If demand is high, 2.25 million more shares could be sold. The price per share is expected to be between $11 and $13. Based on the 344.9 million shares already out there after the selling, the company would be worth $4.48 billion if it went public at $13.
Once, Pony was worth $8.5 billion after the Series D round ended in 2022, and Toyota was a part of it.
Pony could make up to $224 million from the deal, much less than its original goal of $425 million. This is based on the company’s expected share price range. However, the company would get at least $165 million, much less than the $200 million floor set in September.
Pony’s IPO is the latest in many Chinese companies going public on the U.S. stock market after Beijing banned them for several years. Even though global tensions are rising and a tariff on all Chinese imports is coming, U.S. investors want to buy more Chinese tech companies.
Pony comes after Zeekr, a Chinese electric vehicle company that went public on the New York Stock Exchange in May and raised $441 million. Which debuted on the New York Stock Exchange in May with $441 million in gross proceeds.
Another self-driving car company, WeRide, went public on the Nasdaq in October and raised $440.5 million through an IPO and a private sale.
The Nasdaq report for Pony will be called “PONY.”
