Self-driving firm Pony.ai in Hong Kong Stock Exchange first

Self-driving company Pony.ai, which is headquartered on the Chinese mainland, made its debut on the main board of the Hong Kong Stock Exchange on Thursday, issuing approximately 48.25 million shares.

Total proceeds are expected to reach HK$7.7 billion ($990.4 million), making it the world's largest Initial Public Offering in the autonomous driving sector in 2025, as well as representing the largest fundraising among Hong Kong's new share offerings in the artificial intelligence industry this year.

Following its Nasdaq listing in November 2024, Pony.ai's Hong Kong listing marks the company's establishment of a dual-primary listing structure across the United States and Hong Kong capital markets.

James Peng, founder and CEO of Pony.ai, said that, after almost nine years of innovation and exploration, the company stands on the brink of large-scale commercialization in autonomous driving.

"Our Hong Kong listing represents not only a critical step in our capital strategy, but also a significant milestone in connecting with global markets and resources," Peng said.

Founded in 2016, Pony.ai is dedicated to delivering autonomous driving technologies and solutions for the global mobility and logistics markets. It is the only company to hold fully driverless Level 4 commercial robotaxi service permits in Beijing, Shanghai, Guangzhou and Shenzhen.

The company is also actively expanding its global footprint, seeking growth opportunities across key international markets in Europe, East Asia and the Middle East, and has accumulated more than 55 million kilometers of autonomous driving mileage.

The company's dual-primary listing marks the beginning of a new chapter for Pony.ai. Leveraging its technological capabilities and extensive experience in fully driverless operations, the company says it is accelerating the large-scale commercialization of autonomous driving and paving a clear, sustainable path to profitability for the entire industry.