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Pony AI is inch closer to itsinitial public offeringin the U.S. , but as it does so , it continues to drop its minimum target for what it hopes to kindle in the dealing .
Pony operate a fleet of 190 “ robotrucks ” in Beijing and Guangzhou and more than 250 robotaxis in Beijing , Guangzhou , Shenzhen , and Shanghai . The troupe told TechCrunch it can accuse for robotaxi fare in all four cities and is fully driverless in Beijing , Guangzhou , and Shenzhen .
In a filing Thursday , the Formosan self - ram engineering party suppose it plans to issue 15 million American Depository Shares , with the possibility of issuing 2.25 million more if requirement is high , at an expected cost range of between $ 11 and $ 13 per share . At $ 13 , that would value the caller at $ 4.48 billion , based on 344.9 million ploughshare outstanding at once follow the oblation .
Pony once hit a valuation of$8.5 billionfollowing the finish of a Series D round in 2022 , in which Toyota enter .
Based on the company ’s look share price range , Pony could expect to rake in up to $ 224 million from the dealing , which is well below its initial target of $ 425 million . But at a minimum , the ship’s company would pick up $ 165 million , which is also well below the $ 200 million lower limit set in September .
Pony ’s debut is the latest in a chain of Chinese companies going public on the U.S. pedigree mart after a multi - yearban from Beijingon offshore working capital upbringing . U.S. investor seem to have a growing appetency for Taiwanese engineering companies , despite growing geopolitical tension anda looming tariffon all Chinese import .
In the automotive sector , Pony survey Taiwanese EV startup Zeekr , whichdebuted on the New York Stock Exchange in Maywith $ 441 million in gross payoff .
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WeRide , another self-directed fomite inauguration , debut on the Nasdaqin October , raising $ 440.5 million in its initial offering and private emplacement .
Pony will list on the Nasdaq under the ticker “ PONY . ”
