Uber to Invest in Hong Kong Listings ofÌýPony AI, WeRide
Reported Move Would Deepen Uber's Ties With Chinese Robotaxi Firms
[Stay on top of transportation news: .]
Uber Technologies Inc. is planning to invest in the Hong Kong listings of Pony AI Inc. and WeRide Inc., according to people familiar with the matter, deepening the ride-hailing giant’s ties with the Chinese robotaxi firms.Ìý
Uber may invest about $100 million in Pony AI’s share sale, the people said, asking not to be identified because the information is private. Pony AI, whichÌýwent publicÌýin the U.S. last year, is looking to raise as much as $972 million in its Hong Kong listing, before an option to increase the size of the deal.
San Francisco-based Uber is also interested in WeRide’s listing, the people said, without disclosing an amount. Other investors could include Southeast Asia’s largest ride-hailing and delivery company Grab Holdings Ltd., Singapore state investor Temasek Holdings Pte and Robert Bosch GmbH, the people said.Ìý
WeRide, whichÌýwent publicÌýin the U.S. a year ago too, launched a Hong Kong listing to raise as much as $398 million on Oct. 28.Ìý
Talks are ongoing and the investment plans may change, the people said.Ìý
Pony AI develops and operates self-driving fleets in the U.S. and China. (Qilai Shen/Bloomberg News)
Uber didn’t immediately respond to a request for comment. Pony AI declined to comment and WeRide didn’t directly address questions on potential investors.Ìý
McLeod Software CEO Tom McLeod discusses how the company is incorporating AI into trucking software in ways that work for carriers and brokers navigating a challenging freight market.ÌýTune in above or by going to .ÌýÌý
Uber Freight ranks No. 14 on the Transport Topics Top 100 list of the largest logistics companies in North America.Ìý
Uber invested in the U.S. IPOs of bothÌýPony AIÌýandÌýWeRide, while Bosch bought into WeRide as well. Uber announced an additional $100 million investment in WeRide in May. Uber alsoÌýpartnered with Pony AIÌýearlier this year to launch in the Middle East, and it has joined forces with WeRide in Abu Dhabi.Ìý
Pony AI’s American depositary receipts have climbed more than 50% since their debut in November 2024. WeRide’s have fallen 28% since listing last October.Ìý
Singapore-based Grab has been making forays into driverless cars as well,Ìýunveiling an investmentÌýin Michigan-based May Mobility last week with the goal of bringing robotaxis to Southeast Asia as soon as next year. The deliveries firm has also invested in WeRide to jointly deploy robotaxi fleets across the region.
A Grab representative didn’t respond to questions on the WeRide deliberations. Temasek declined to comment and Bosch didn’t immediately reply.Ìý
Growth Plans
Want more news? Listen to today's daily briefing above or go here for more info
Pony AI is planning to use the proceeds from its Hong Kong listing for large-scale commercialization of its Level 4 autonomous driving technology in both robotaxi and robotruck services, as well as for research and development. The Guangzhou-based company has a goal to turn profitable in 2028 or 2029.
WeRide plans to use the funds from its listing to develop autonomous driving technology, accelerate commercial mass production of Level 4 fleets and expand over the next five years. It too has yet to turn a profit.
Written byÌý Pei Li, Julia Fioretti and Dave Sebastian
