James Peng is the chief executive of Pony AI Inc. (NASDAQ:PONY), and he says that the US operations have not been officially launched, but they aren’t completely closed.
Peng, in an interview this morning with CNBC, acknowledged that a possible sale was possible. He said, “I would not say that we are open but, if there is a chance, then we may consider it.”
Peng made his remarks after reports suggested that Uber, and its cofounder Travis Kalanick could be interested in PONY assets located in the US.
The chief executive of Pony AI has stated that the United States is “a very important part” in the company. However, the fact that he’s open to considering strategic options shows Pony AI weighs global priorities with care.
Pony AI’s shares have fallen about 45% from their high in May.
PONY is not interested in a large-scale deployment of the US
Pony AI Inc., despite its Silicon Valley origins, is not currently pursuing large-scale commercial activities in the United States.
Peng said that US-based company is focusing on R&D.
This decision is a reflection of a strategic shift away from the American Market, which was likely influenced both by geopolitical tensions and regulatory obstacles.
In light of these risks, PONY’s chief executive stated that the company is “exploring different options and weighing them in for different geo-markets.”
Robotaxi is currently more interested in gaining momentum and establishing a presence in areas with better regulatory conditions.
Pony AI chose Dubai as the commercial launch location for its product.
Dubai is a major launchpad for Pony AI’s international expansion. The reasons behind this are strategic as well as pragmatic.
Peng pointed to the strong support of government and the high demand for sharing mobility.
He said that Dubai is one of the most friendly countries with an emphasis on supporting autonomous vehicles.
As early as next, the partnership between Dubai’s Roads and Transport Authority and Unmanned Commercial Operations is anticipated to be implemented.
PONY has global ambitions, but they don’t end there. Fleets will also be launched in South Korea, Luxembourg and other markets are being considered.
Peng stressed the importance of early entry, local collaboration and said, “It is always better to get there early in order to gain close cooperation with local actors and governments.”
Hong Kong could list PONY stocks soon
Pony AI, which is actively considering a Hong Kong listing as the IPO market in Hong Kong heats up, has been looking at this option.
Peng said that the Hong Kong stock exchange was “very active and booming this year” and acknowledged the strategic benefit of its close proximity to China, the home of the company.
He noted that “a lot of investors would love to be able to access a market close to their home base.”
Peng, while no official plans have yet been made public, confirmed that his company was “exploring” the possibility of a secondary or primary listing.
PONY is continuing to expand its global operations, and a Hong Kong IPO would provide it with the necessary financial power and visibility to investors to help accelerate their ambitions.
Wall Street has currently given the stock of autonomous vehicles a “buy” consensus rating.
The post Is Pony AI US really for sale? This post may be updated as new information unfolds
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