February 26, 2020 – Beijing – NIO Capital-backed Pony.ai officially announced it has raised $400 million USD in funding from Toyota Motor Corporation today, aimed at deepening cooperation between the two parties in the field of mobility. Pony.ai has raised $462 million USD altogether in this latest round of investment, raising its value to just over $3 billion USD.

In August of 2019, Pony.ai and Toyota announced the launch of an autonomous driving (AD) pilot program on public roads in China. This year's strategic investment will expand the partnership's scope of collaboration. In addition to jointly developing autonomous driving technology, Pony.ai and Toyota will explore further possibilities for mobility by leveraging autonomous driving services. 

Pony.ai has been testing its Robotaxi pilot service, PonyPilot, since late 2018 in Guangzhou, China. In November 2019, Pony.ai also became the first company to roll out a public-facing Robotaxi pilot service in California, demonstrating its ambition and commitment to mobility services at a global scale.