Pony AI's IPO filing reveals a lowered valuation and fundraising targets, reflecting challenges in the competitive autonomous vehicle market as it seeks to go public.
Pony operates a modest fleet of 190 robotrucks and over 250 robotaxis, with an average of 15 daily orders per robotaxi from 220,000 users.
Toyota holds a 13.4% stake in Pony AI, having initially invested $400 million in 2020, contributing to the startup's rise despite a challenging capital landscape.
With over 20 million autonomous miles recorded, Pony acknowledges only 2.4 million miles of fully driverless operation, illustrating the complexities of full autonomy.
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