AUS
NZ
UK
CA
USA
IND
Highlights:
Uber Technologies plans to participate in Pony AI’s upcoming U.S. initial public offering (IPO), expected to price next week.
The IPO has been upsized to 20 million American depositary shares, with the potential to raise $260 million.
Uber has also engaged with other autonomous driving firms, including Waymo and WeRide, as part of its broader strategy in the self-driving sector.
Uber Technologies Inc. (NYSE:UBER) is set to participate in the upcoming U.S. initial public offering (IPO) of Pony AI Inc., an autonomous driving company. The IPO, which had been delayed as Pony AI addressed regulatory inquiries, has been upsized to 20 million American depositary shares (ADS), with a price range of $11 to $13 per share. The deal is now expected to raise up to $260 million. Uber is reportedly planning to acquire more than $10 million in shares from Pony AI’s IPO.
Pony AI, founded in 2016, develops and operates self-driving vehicle fleets in both the U.S. and China. The company’s offerings include robotaxis and autonomous trucks, with permits to provide fully driverless taxi services in major Chinese cities such as Beijing, Shenzhen, and Guangzhou. The company is also in discussions with several other firms, including Beijing Automotive Group Co. and Guangzhou Automobile Group Co., who have shown interest in participating in the IPO.
Uber has been expanding its presence in the autonomous driving sector through partnerships and investments. Beyond Pony AI, Uber also participated in the U.S. IPO of WeRide Inc., a Chinese autonomous driving company, and has secured a robotaxi service agreement in Abu Dhabi. In addition, Uber has collaborated with other self-driving technology firms, such as Waymo, and made undisclosed investments in companies like Wayve Technologies Ltd.
Although details regarding Uber’s final investment in Pony AI have not been disclosed, these strategic moves highlight Uber’s ongoing focus on advancing its position in the autonomous driving space. The collaboration with Pony AI and other autonomous technology firms aligns with Uber's broader efforts to integrate self-driving capabilities into its business model, both in the U.S. and internationally.
