PonyAI Expands Influence by Securing Stake in PonyLink

Pony AI announced on the 8th that, in addition to the 5 billion KRW paid-in capital increase shares it was scheduled to participate in to enhance the shareholder and corporate value of its partner company PonyLink, it plans to purchase approximately 15 billion KRW worth of shares on the market to expand its equity stake in PonyLink.

Pony AI currently holds a 2.93% stake in PonyLink but plans to gradually increase its share ratio, using this as an opportunity to strengthen business synergy and influence with PonyLink.

Founded in 2016 and located in California, USA, Pony AI is recognized as a leader in the autonomous driving industry with Level 4 autonomous driving technology. Its main business areas include the development of autonomous vehicles, robo-taxis, and robo-trucks. It provides autonomous mobility services with about 300 robo-taxis in certain regions of the USA and China.

Pony AI recently announced plans to list on the US stock market and aims to expand its market to Europe and Middle Eastern countries. With the Nasdaq listing schedule becoming concrete, Pony AI explained that its market purchases of PonyLink shares, a partner company operating autonomous vehicle business in Korea, are part of efforts to enhance corporate and shareholder value. By executing market purchases, Pony AI intends to take a leading role in the Korean autonomous vehicle business with PonyLink.

A Pony AI representative stated, “To strengthen business synergy with our Korean partner PonyLink, we plan to gradually increase our shareholding through market purchases to enhance corporate and shareholder value. Through additional investments, we will establish an autonomous vehicle operation center in Korea and increase the number of autonomous vehicles under testing to accelerate the introduction of Pony vehicles in Korea as soon as possible.”

Currently, Pony AI is preparing to retrofit and test autonomous vehicles through an operation hub in Seongnam, Gyeonggi Province, for the domestic autonomous vehicle business with PonyLink.