China's Kunlun Wanwei recently published an announcement, stating that its wholly-owned subsidiary Kunlun Group Limited plans to invest USD50 million into Pony AI Inc. to acquire a 3% stake in the latter.
According to public files, Pony AI Inc. was jointly established by unmanned driving experts Peng Jun and Lou Tiancheng in November 2016 and Academician Yao Qizhi is chief consultant of the company. As an innovation technology company, Pony AI Inc. focuses on the research and development of L4 level unmanned driving technologies as well as fleet operation.
At present, Pony AI Inc. has gained unmanned vehicle test plan production license issued by the government of California, US and T3 automatic driving road test license issued by the government of Beijing. Its unmanned motorcade has implemented driving tests in Silicon Valley, Beijing, and Guangzhou.
Kunlun Wanwei said that unmanned driving is an important branch in the artificial intelligence sector. With the USD50 million investment, the company will distribute in the unmanned driving market, which is an important investment in the AI sector.