Pony AI, the Chinese language autonomous automobile startup that’s looking to go public on the Nasdaq stock exchange, now desires to boost round $260 million, in keeping with a brand new regulatory filing.
That’s up from its earlier goal of round $224 million. To fulfill the purpose, Pony will promote as many as 20 million American depository shares. That’s nonetheless down from the a lot increased goal of $425 million, which Pony was aiming for earlier this yr earlier than its board accredited a discount of its minimal valuation from round $8 billion to $4 billion.
Pony has had its struggles with early testing in the USA, together with losing its permit to check AVs in 2022. In the meantime, it maintains a fleet of 190 “robotrucks” in Beijing and Guangzhou, plus 250 robotaxis in Beijing, Guangzhou, Shenzhen, and Shanghai.
This has led some, together with former Waymo CEO john Krafcik to question why Pony is gunning for a U.S. IPO? There may be still demand for Chinese language AV firms on U.S. exchanges. However the shifting monetary goal suggests Pony remains to be crafting the precise reply to that query.
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