Welcoming Our Newest Investor: Toyota

Together, we will further advance our joint efforts in autonomous driving technology development and mobility service deployment.

We are thrilled to announce that our existing partner Toyota Motor Corporation has invested $400 million in Pony.ai as part of our Series B financing round. The new funding totals $462 million and puts our valuation at just over $3 billion, making Pony.ai one of the most valuable autonomous driving companies in the world.

We have been working with Toyota since 2019 to co-develop autonomous technology using the Lexus RX-based vehicle platform and Pony.ai autonomous driving system. We have also initiated joint autonomous driving pilots in Beijing and Shanghai, China. Continuing our partnership, we will expand our scope of collaboration to look beyond the vehicle itself to explore further possibilities on mobility services.

Since our founding in 2016, we have been committed to revolutionizing the future of transportation by building the safest and most reliable solutions for autonomous mobility at a global scale. Last year, we became the first company to roll out a public-facing robotaxi pilot service in California, offering an on-demand, ride-hailing experience comparable to those of existing services.

Going forward, our strategic partnership will focus on providing meaningful societal benefits by leveraging the technologies, expertise, and services of each company. We are excited to enter this new phase with Toyota as we work towards our shared vision of a safe and sustainable mobility future together.