Chinese autonomous driving company Pony AI has gone public in Hong Kong to raise new capital for research and expansion of its self-driving technology.
The company is offering nearly 42 million Class A shares, with 4.2 million available to Hong Kong investors and the remainder to international buyers. Shares are priced at up to HK$180 (around US$23) each, which could value Pony AI at more than US$10 billion.
Lukas Neckermann, autonomous mobility expert and Managing Director of smart mobility consultancy Neckermann Strategic Advisors, sees the IPO as “a message of confidence” that the AV sector has matured beyond local pilots and private and institutional funding rounds.
Neckermann told Zag Daily that the IPO “positions Chinese AV firms amid global players, and enables further expansion into new markets across Asia, Europe, and the Middle East.”
Cornerstone investors have already committed around US$120 million to the international tranche. Proceeds from the listing will be used to advance Pony AI’s Level 4 autonomous driving systems (vehicles capable of operating without human input in most conditions) and to scale R&D and global operations.
Trading is set to officially begin on 6 November under stock code 2026.
Uber plans investment
Latest reports indicate that Uber is planning to invest in the Hong Kong listings of both Pony AI and fellow Guangzhou-based autonomous driving company WeRide, deepening its ties with Chinese robotaxi operators.
Uber previously took part in both companies’ U.S. IPOs and has collaborated with them internationally, including partnerships in the Middle East. Other potential investors in the Hong Kong listings reportedly include Southeast Asia’s Grab Holdings, Singapore’s Temasek and Germany’s Bosch.
Pony AI’s Hong Kong debut comes as more Chinese technology companies seek dual listings amid tighter U.S. regulations and ongoing geopolitical tensions. The company’s American depositary shares already trade on Nasdaq under the ticker PONY. It follows WeRide, which is also preparing to list in Hong Kong under Chapter 18C, a framework designed for innovative, pre-profit technology businesses.
Founded in 2016, Pony AI has carried out extensive public road testing in cities including Guangzhou and Beijing. Its listing signals growing investor confidence that the driverless vehicle sector is moving closer to large-scale commercial deployment.
