Pony.ai in JV With Toyota-linked Companies to Mass Produce Self-Driving Taxis

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.