Pony AI Targets $4.48 Billion Valuation in Upcoming US IPO

The autonomous vehicle startup plans to raise up to $224 million by listing on Nasdaq, despite a significant drop in valuation since 2022.

Pony AI is set to offer 15 million American Depositary Shares priced between $11 and $13 each, with potential additional shares if demand allows.
The company's current valuation of $4.48 billion marks a nearly 50% decrease from its 2022 valuation of $8.5 billion.
Revenues for the first nine months of 2024 increased by 85.5% to $39.5 million, driven primarily by the growth of its robotruck division.
Despite regulatory approvals for driverless taxis in several Chinese cities, the commercialization of Pony AI's robotaxi service has been slower than anticipated.
Pony AI's IPO follows the recent Nasdaq debut of its competitor WeRide, highlighting increased investor interest in Chinese autonomous vehicle firms.