Commentary

Toyota Invests $400 Million In Self-Driving Startup

One autonomous driving company just got a double boost.

California-based Pony.ai just received a $400 million investment from Toyota Motor Corporation to “deepen and expand” the two companies’ collaboration in mobility services.

The company also inked a deal with the city of Fremont, California to launch a pilot program offering rides for a group of city employees via Pony.ai’s shared, on-demand, autonomous last-mile service.

Employees will ride in the autonomous vehicles from the Amtrak station to City Hall and the City of Fremont Development Services Center.

As in most trials, the autonomous vehicles will carry a safety operator.

Pony.ai has received a total of $462 million in funding to date, giving the company a valuation of just over $3 billion.

The self-driving technology company has been testing its robotaxi pilot service PonyPilot since 2018 in Guangzhou, China, and was the first to launch a public-facing, robotaxi pilot service in California.

For the pilot in Fremont, vehicles will be equipped with Pony.ai’s autonomous driving technology, which serve as the ‘brains’ of the vehicles.

The city of Fremont aims to decrease drive-along commuting from 73% to 50% by 2040.

Last week, a national self-driving shuttle service was temporarily halted by the National Highway Traffic Safety Administration after a vehicle made a sudden stop, injuring a passenger when she was knocked off her seat.

Federal official likely will be watching the new trials in Fremont.

 

 

 

1 comment about "Toyota Invests $400 Million In Self-Driving Startup".
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  1. R MARK REASBECK from www.USAonly.US , March 2, 2020 at 9:07 p.m.

    So Toyota is "Ponying-up" almost a half Bil for the Pony-car Ghost driver cars.
    The article says is will "Deepen and expand" their relationship.  I'm thinkin it will Deepen their debt , and expand it's useless-ness and eventual rejection of this technology.

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