What’s new: Self-driving start-up Pony.ai Inc. has signed an agreement with two Toyota Motor Corp.-linked companies to set up a joint venture in China to support the mass production of level-4 self-driving taxis.
Pony.ai, Toyota Motor (China) Investment Co. Ltd. and GAC Toyota Motor Co. Ltd., a joint venture of the Japanese carmaker and Guangzhou Automobile Group Co. Ltd., will invest more than 1 billion yuan ($140 million) to set up the robotaxi joint venture before the end of 2023, according to a Friday press release from the start-up.
Toyota, the world’s biggest car seller, established a strategic partnership with Pony.ai in 2019 for research into autonomous vehicles, and invested $400 million in the start-up’s series B funding round in 2020.
The background: A number of tech giants and self-driving start-ups have piloted robotaxi programs in Chinese cities including Beijing and Shenzhen, with some setting their eyes on mass production.
In May, ride-hailing giant Didi Global Inc. announced a renewed partnership with state-owned Guangzhou Automobile’s electric-vehicle subsidiary Aion to create a joint venture to mass-produce self-driving electric taxis.
The robotaxis are expected to be available for Didi riders in 2025, according to the company’s press release.
Contact reporter Zhang Yukun (yukunzhang@caixin.com)
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