Gemvax Link is showing strong performance. It is interpreted that the market is paying attention as it introduces Pony's autonomous vehicles to Korea.
As of 1:34 PM on the 14th, Gemvax Link is trading at 3,700 KRW, up 13.15% from the previous day.
According to the industry, Pony's autonomous driving vehicles and autonomous driving modules, which Gemvax Link is promoting for domestic introduction, are scheduled to arrive at Busan Port at the end of this month and then be transported to the joint venture Operation Hub located in Bundang-gu, Seongnam-si.
The Hub is about to be completed as a base for promoting the 'Robotaxi' business in Korea. Vehicles transported to the Hub will undergo about two weeks of assembly, autonomous driving software (SW) installation, and calibration processes to become Level 4 (highly automated) autonomous vehicles.
Gemvax Link is preparing all necessary arrangements for pilot operation of autonomous vehicles and plans to receive additional vehicles and autonomous driving modules.
Hwang Jeong-il, CEO of Gemvax Link, said, “The preparations for building the Hub and modifying the vehicles are progressing smoothly,” adding, “We will showcase differentiated autonomous vehicles within this year.”
Chinese autonomous driving company PonyAI received approval from Chinese authorities last month to list on the U.S. stock market.
According to the China Securities Regulatory Commission, PonyAI plans to list on the NASDAQ and New York Stock Exchange by selling up to 98 million shares of its own stock.
PonyAI develops and operates autonomous vehicles in both the U.S. and China. It launched autonomous driving robotaxi services in Guangzhou, China in 2018, and just one year later started related services in Irvine, California, USA.
Additionally, Toyota invested 400 million USD (approximately 600 billion KRW) in PonyAI in 2020. The company's corporate value is estimated at 8.5 billion USD (approximately 11.7 trillion KRW).
Meanwhile, Gemvax Link has signed a memorandum of understanding (MOU) with the National Bus Transport Business Association Federation and PonyAI to create a safe and sustainable future environment for route bus transportation business.
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