Uber Technologies plans to invest in Pony AI’s upcoming US initial public offering (IPO). According to sources, the IPO is expected to be priced this week after Pony AI increases the number of shares it will sell.
The sources said that Uber, based in San Francisco, is looking to buy more than $10 million worth of Pony AI shares. They added that Uber might explore using Pony AI’s technology in a partnership outside the US. Last month, Uber also invested in the US IPO of China’s WeRide, another autonomous driving company they’ve already worked with through a robotaxi agreement in Abu Dhabi.
Discussions about Uber’s investment in Pony AI are ongoing, and the exact size of the deal has not been finalized, according to the sources. Representatives from Uber, WeRide, and Pony AI declined to comment.
Pony AI initially planned to price its IPO on November 21, but the date was delayed as the company worked through regulatory questions. Pony AI has since increased its offering to 20 million American depositary shares, up from 15 million, and could raise to $260 million. According to documents reviewed by Bloomberg News, shares are expected to be priced between $11 and $13 each.
Founded in 2016, Pony AI operates self-driving vehicle fleets in the US and China. Its services include robotaxis and self-driving trucks. The company has permits for fully driverless taxi services in Beijing, Shenzhen, and Guangzhou.
Other companies, including Beijing Automotive Group and Guangzhou Automobile Group, have also expressed interest in Pony AI’s IPO.
Uber has strengthened ties with autonomous driving firms, including partnerships with Waymo and Wayve Technologies. Its growing investments reflect a strong interest in the future of self-driving technology.
