Toyota-backed self-driving start-up Pony.ai considers IPO to

Toyota-backed self-driving start-up Pony.ai considers IPO to boost growth


, is considering going public in the US to
fund its goal of commercialising driverless ride-hailing services, its chief executive told Reuters.
The start-up, active in the US and China, plans to install its technology in hundreds of vehicles next year, rising to tens of thousands in 2024-2025, he said.
Self-driving start-ups such as Alphabet's Waymo and General Motors’ Cruise have been racing to raise capital as the industry prepares to scale up operations.
Still, beyond the time taken to address technological challenges and the massive cost of producing self-driving cars, the industry still has to persuade global regulators and
the public as to the safety of full automation.

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