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Toyota, Pony.Ai to set up robotaxi JV with $139 mln investment

August 4, 2023
Source: reuters.com reuters.com
News Snapshot:
file photo: A logo of the autonomous driving technology startup Pony.ai is seen on a screen during an event in Beijing, China May 13, 2021. REUTERS/Tingshu Wang BEIJING, Aug 4 (Reuters) - Autonomous vehicle technology startup Pony.Ai on Friday said it would set up a joint venture with Japan's Toyota Motor (7203.T) with an investment of 1 billion yuan ($139 million) to mass produce robotaxis. The new company, which will also involve Toyota's joint venture with Chinese state-owned Guangzhou Automobile Group (GAC) (601238.SS), will be established this year and will see GAC-Toyota produce cars that will use Pony.Ai's ride-hailing software,...
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