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Pony AI is having its initial public offering today. The firm, which is based in Silicon Valley but also has a headquarters in Guangzhou, China, makes autonomous mobility tech that can turn cars into self-driving vehicles. Here’s what you need to know about Pony AI and its IPO.

What is Pony AI?

Pony AI is an autonomous mobility company that was founded in 2016. Pony AI doesn’t make cars itself. Instead, it makes the technology that allows cars to become autonomous.

Pony AI operates Robotaxi: PonyPilot, a fleet of autonomous-driving Toyota Sienna Autono-MaaS vehicles. In 2024, Pony AI expanded its Toyota partnership to add Toyota bz4X SUVs to its Robotaxi fleet. Pony AI is also looking to disrupt the logistics sector with its Robotruck: PonyTron, which utilizes the Sany Heavy Truck.

Pony AI’s Robotaxi fleet currently operates in Beijing, Shanghai, Guangzhou, and Shenzhen, China.

When is Pony AI’s IPO?

Pony AI shares, which are American depositary shares (ADS), will begin trading today, Wednesday, November 27, 2024.

What is Pony AI’s stock ticker?

Pony AI shares will trade under the stock symbol “PONY.”

What market will Pony AI trade on?

Pony AI shares will trade on the Nasdaq Global Select.

How many Pony AI shares are available in its IPO?

Pony AI is offering 20 million American depositary shares. Each ADS represents one Class A ordinary share of its common stock, according to a press release announcing the public offering.

What is Pony AI’s IPO price?

PONY’s public offering price is $13 per share.

How much will Pony AI raise in its IPO?

Pony AI raised $260 million after it priced its IPO, according to Bloomberg.

How much is Pony AI worth?

Pony AI has an implied market value of around $4.5 billion based on its number of outstanding shares, according to Bloomberg.

This post originally appeared at fastcompany.com
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