China Approves US Listing for Self-Driving Firm in Easing Sign [BNN Bloomberg (Canada)]
Toyota Motor Corporation (TM)
US:NYSE Investor Relations:
toyota-global.com/investors
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Source: BNN Bloomberg
Pony.ai plans to sell up to 98 million shares and list on the Nasdaq or the New York Stock Exchange, according to an announcement on the China Securities Regulatory Commission's website published late Tuesday. The Chinese securities regulator said Friday it would support overseas listings of tech firms. Chinese IPOs in the US slowed dramatically after Beijing cracked down on listings and the tech industry in 2021 following controversy over a US share sale by Didi Global Inc. Founded in 2016, Pony.ai develops and operates self-driving fleets in the US and China, with its main hub in Fremont, California. It launched autonomous robotaxis in Guangzhou in 2018 and rolled out the service in Irvine, California a year later. The firm is backed by Toyota Motor Corp., which invested $400 million in 2020, as well as Saudi Arabia's Neom Co. The company is valued at $8.5 billion, based on its last funding round, Caixin reported in October. US markets have long held vital importance for Ch
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