Pony.ai and Toyota to form ioint venture to mass produce robotaxis in China - Pi...
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Pony.ai and Toyota to form ioint venture to mass produce robotaxis in China
Pony.ai and Toyota to form ioint venture to mass produce robotaxis in China
21 hours ago
Toyota and Pony.ai, have unveiled their ambitious plans to commence mass production of robotaxis in China. The companies intend to establish a joint venture this year, dedicated to manufacturing vehicles equipped with Pony.ai's autonomous driving technology, as well as incorporating ride-hailing services into the innovative cars.
The joint venture between Toyota and Pony.ai is backed by approximately $139 million in capital from GAC Toyota Motor Co. This capital injection comes from GAC Toyota Motor Co., a joint venture between Toyota China and GAC, a prominent Chinese state-owned automaker.
Following Toyota's earlier investment of approximately $400 million in Pony.ai back in 2020, the recent infusion of $139 million from GAC Toyota Motor Co. further solidifies their partnership. Going forward, Toyota plans to provide Pony.ai with an undisclosed number of its electric vehicles (EVs), which Pony.ai will equip with their advanced autonomous driving technology and integrate into their robotaxi network platform.
China has been a leading force in the advancement of self-driving cars, and Pony.ai has emerged as a key player in this field. The company has successfully launched its robotaxi services in major Chinese cities such as Beijing, Shanghai, Shenzhen, and Guangzhou.
Moreover, Pony.ai has also extended its presence beyond China and established offices in the United States
In 2021, Pony.ai initiated driverless-vehicle testing in California. However, their testing permit was suspended six months later, posing a setback in their autonomous vehicle development efforts in the state. Furthermore, during the same year, the company appeared to scale back its autonomous trucking aspirations by consolidating its research and development teams. Additionally, Pony.ai underwent changes in its executive team, with the departure of a couple of key executives
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