Pony.ai and Luminar launch autonomous driving platform
Pony.ai, a leading autonomous driving technology company, introduced its newly designed sensing platform in collaboration with lidar hardware and software company Luminar Technologies, Inc. Pony.ai also announced it has driven more than five million kilometers across an operational coverage area of more than 850 km² and has provided more than 220,000 Robotaxi rides.
Pony.ai is set to deploy automotive-grade production autonomous fleets in 2023 globally. The next-generation fleet will integrate Luminar’s Iris and feature a multi-sensor 360-degree configuration and a slimmest profile roofline at just 10cm off of the vehicle roof.
Tuesday, May 11, 2021
This report helps automotive suppliers inform their legal and operational decisions to help address challenges and opportunities.
Key Developments
2021 U.S. light vehicle sales forecast to 17 million units following April sales results, which reached a
SAAR of over 18 million units.
New-vehicle inventories fell to 1.9 million units industrywide in April, down from 2.4 million units in March - this represents a
33 days’ supply, compared to 88 days one year ago.
U.S. fleet sales were down by 16% for January - April compared to the same period last year, and
31% lower from the same period in 2019, according to Cox Automotive.
Measured by global lost vehicle production,
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Autonomous truck startup Plus to go public through $3.3b SPAC merger
May 11, 2021
Plus, a US autonomous truck startup backed by Sequoia Capital China, plans to go public by merging with special purpose acquisition company (SPAC) Hennessy Capital Investment Corp V in a deal that values it at about $3.3 billion.
According to a statement on Monday, Plus will generate about $500 million in gross proceeds through the SPAC merger to accelerate commercialisation and expand global operations.
The amount includes $150 million from a private investment in public equity (PIPE) deal, which refers to the practice of private investors buying publicly traded stock at a price below the current price available to the public. The PIPE deal roped in investors, including global asset manager BlackRock, New York-based hedge fund D.E. Shaw Group, and other institutional investors.