GemVaxLink Changes Company Name to PonyLink

GemVax Link announced on the 24th that it plans to change its company name to ‘PonyLink’.

GemVax Link will change its name through an extraordinary general meeting of shareholders on the 10th of next month to focus on its autonomous driving business division. By changing its name to ‘PonyLink Co., Ltd’, the company aims to demonstrate its commitment to new businesses and pursue a transformation into a mobility company.

Based on Internet of Things (IoT) technology, integrated control systems, and connected car service experience, GemVax Link has been preparing to expand its business into vehicle information services, autonomous driving software development, and other transportation-related services.

Earlier, on March 15th, GemVax Link held an extraordinary general meeting of shareholders, appointing key personnel from Pony.ai as new directors and outside directors, and added business objectives for autonomous driving development and business diversification.

A company representative stated, "The name change is not just a simple change of name, but an important turning point presenting the company’s new vision and direction," and added, "PonyLink will focus on the autonomous driving business to provide more innovative and differentiated services."

According to data from the Korea Institute of Science and Technology Information, the global autonomous driving integrated solutions market is expected to grow at an average annual rate of 21.7%, reaching $47.8 billion (63 trillion KRW) by 2028.