Pony AI's Nasdaq Debut: A Mixed Start for the Autonomous Driving Startup

Pony AI raises $413M in Nasdaq IPO as shares close below initial listing price - SiliconANGLE

Pony AI raises $413M in Nasdaq IPO as shares close below initial listing price Shares in Pony AI ADR closed down $1 today after the Chinese autonomous vehicle startup raised approximately $413 million in an initial public offering that debuted on the Nasdaq earlier today. In the IPO, Pony AI offered 20 million American depository shares - each representing one Class A ordinary share of the company, at a price of $13 per share. Throughout the day and post-IPO, the Pony hit a high of $15.48 before dropping below the $13 IPO price just before 1 p.m. The shares never rose above the $13 list price again for the rest of the regular trading day. Founded in 2016, Pony AI offers Level 4 autonomous driving technology aimed at facilitating driverless operations. The company's system combines cameras with sensors such as radar and lidar, plus artificial intelligence software, to spot objects at distances of up to 200 meters and can be fitted onto regular cars and trucks. Regarded as one of the world's leading autonomous driving firms, Pony AI has an extensive ecosystem of auto industry partners which it collaborates with to fine-tune its offerings. Key collaborations include Toyota Motor Corp., with which Pony AI formed a joint venture to advance the mass production of Level 4 autonomous vehicles. Pony has also worked with SANY Heavy Truck to develop next-generation autonomous trucks and with Horizon Robotics to create smart driving solutions for original equipment manufacturers. Pony AI has grown rapidly in its native China, where it operates fully driverless ride-hailing services in cities including Beijing and Guangzhou. While the company has faced challenges in the U.S., including the revocation of its California robotaxi testing permit in 2022, it resumed testing with safety drivers in 2023. Coming into its IPO, Pony AI had raised $1.19 billion in venture capital funding, including a Series D round on a $8.5 billion valuation in March 2022. Investors in Pony AI included Green Pine Capital Partners, CMC Capital, Redpoint Ventures China, The Ontario Teachers' Pension Plan, Fidelity China, 5Y Capital, ClearVue Partners, Eight Roads, Sequoia Capital China, IDG Capital and Toyota. Notably, Pony AI floated at a valuation of nearly $5.4 billion, according to Bloomberg, down from its 2022 on-paper valuation. Pony AI follows in the steps of other self-driving car and technology companies that have gone public. Similar companies that have gone public include TuSimple Holdings Inc., which raised over $1 billion in its 2021 IPO for autonomous trucking, and Luminar Technologies Inc., which went public in 2020 through a special purpose acquisition company merger.

Pony AI Stock Falls Over 7% After IPO Pricing At $13, Rebounds Nearly 3% In After Hours - Pony AI (NASDAQ:PONY)

Pony AI Inc. PONY debuted on the Nasdaq Global Select Market today, pricing its initial public offering at $13 per ADS. The offering of 20 million ADSs, along with a 30-day underwriters' option for 3 million additional ADSs, aims to raise $260 million in gross proceeds. What Happened: The IPO includes concurrent private placements totaling $153.4 million from strategic investors, bringing the combined gross proceeds to $413.4 million. If underwriters exercise their full option, proceeds could reach $452.4 million. Pony AI ADRs opened trading at $13 but closed 7.69% lower at $12.00. However, after-hours trading saw a 2.75% rebound to $12.33, according to data from Benzinga Pro. The offering is expected to close on Friday. Goldman Sachs, Merrill Lynch, and Deutsche Bank are among the underwriters for the IPO. Pony AI specializes in autonomous driving solutions with operations spanning multiple continents. Read Next: SoftBank Secures Bigger OpenAI Stake With $1.5B Employee Share Buyout: Report Image Via Shutterstock Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Market News and Data brought to you by Benzinga APIs

Pony AI Prices 20M Share IPO at $13/sh By Investing.com

Pony AI Inc. ("Pony.ai" or the "Company") (Nasdaq: PONY), a global leader in achieving large-scale commercialization of autonomous mobility, today announced the pricing of its initial public offering (the "Offering") of 20,000,000 American depositary shares ("ADSs"), each representing one Class A ordinary share of the Company, at a price to the public of US$13 per ADS. The Company has granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to 3,000,000 additional ADSs. The ADSs have been approved for listing and are expected to begin trading on the Nasdaq Global Select Market on November 27, 2024 under the symbol "PONY." The Offering is expected to close on November 29, 2024 Eastern Time, subject to customary closing conditions. Goldman Sachs (Asia) L.L.C., Merrill Lynch (Asia Pacific) Limited, Deutsche Bank AG, Hong Kong Branch, Huatai Securities (USA), Inc., and Tiger Brokers (NZ) Limited are acting as underwriters for the Offering. Concurrently with, and subject to, the completion of this Offering, certain strategic third-party investors have agreed to purchase approximately US$153.4 million worth of Class A ordinary shares from the Company at a price per share equal to the Offering price adjusted to reflect the ADS-to-Class A ordinary share ratio, including (i) US$ equivalent of RMB500 million by JSC International Investment Fund SPC, (ii) US$ equivalent of RMB300 million by Guangzhou Nansha Chicheng Future Industry Investment Fund Partnership (Limited Partnership), (iii) US$27 million by Guangqipony Holdings Limited, and (iv) US$15 million by Kechuangzhihang Holdings Limited, in private placements exempt from registration with the United States Securities and Exchange Commission (the "SEC") under the Securities Act of 1933, as amended. The total gross proceeds to the Company from the Offering and the concurrent private placements are expected to be approximately US$413.4 million, assuming the underwriters of the Offering do not exercise their option to purchase additional ADSs, or approximately US$452.4 million if the underwriters choose to fully exercise their option to purchase additional ADSs. A registration statement related to the ADSs being sold in the Offering has been filed with, and declared effective by, the SEC. This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. This Offering is being made only by means of a prospectus forming a part of the effective registration statement. A copy of the final prospectus relating to the Offering may be obtained, when available, by contacting at the following underwriters: (i) Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282-2198, United States, or by telephone at +1-212-902-1171 or by email at prospectus-ny@ny.email.gs.com; (ii) Merrill Lynch (Asia Pacific) Limited, c/o BofA Securities, Inc., Attention: Prospectus Department, One Bryant Park, New York, NY, 10036, United States, or by telephone at +1 (800) 294-1322 or by email at dg.prospectus_requests@bofa.com; (iii) Deutsche Bank AG, Hong Kong Branch, Attention: Asia Equity Capital Market, Level 60, International Commerce Centre, 1 Austin Road West Kowloon, Hong Kong, or by phone at +852 22038166 or by email at asia.ecm.internal@list.db.com; (iv) Huatai Securities (USA), Inc., Attention: Prospectus Department, 280 Park Ave, 21 E, New York, NY 10017, or by telephone at +1-212-763-8168 or by e-mail at prospectus@htsc-us.com; and (v) Tiger Brokers (NZ) Limited, Attention: Vincent Cheung, Level 27, 151 Queen Street, Auckland Central, Auckland 1010, by calling +64 93-938-128, or by email at ProjectPegasus@itiger.com.

Pony AI set for Nasdaq debut at $4.55B valuation

Chinese autonomous driving technology company Pony AI will start trading on the Nasdaq on Wednesday at an offering price of $13 per share, the higher end of its expected range. With an initial public offering of 20 million American depositary shares, Pony stands to gain at least $260 million at a $4.55 billion from its debut. The proceeds will likely exceed that. Strategic investors are expected to buy around $153 million worth of Pony AI shares in private placements, and the underwriters -- Goldman Sachs, BofA Securities, Deutsche Bank, Huatai Securities, and Tiger Brokers -- have the option to buy an additional 3 million shares. All told, Pony's total proceeds could climb up to $452.4 million. Following WeRide and Zeekr, Pony is the latest Chinese tech company to brave the U.S. public market after a de facto ban from Beijing. Investors will be keeping a close eye on Pony's performance, particularly as both the U.S. and China seek to dominate advancements in autonomous vehicle technology.

Driverless Tech Firm Pony AI's Shares Climb 19% After US IPO

Pony AI Inc.'s American depositary shares jumped 19% in their trading debut after raising $413.4 million in an initial public offering and concurrent private placements, after delaying the pricing by a week. The Chinese autonomous driving startup's ADS traded at $15.50 each as of 11:16 a.m. in New York, above the IPO price. The company sold 20 million ADS in the offering for $13 per ADS, the top of the marketed range, to raise $260 million.

Pony AI Inc. Announces Pricing of Initial Public Offering

GUANGZHOU, China, Nov. 27, 2024 (GLOBE NEWSWIRE) -- Pony AI Inc. ("Pony.ai" or the "Company") PONY, a global leader in achieving large-scale commercialization of autonomous mobility, today announced the pricing of its initial public offering (the "Offering") of 20,000,000 American depositary shares ("ADSs"), each representing one Class A ordinary share of the Company, at a price to the public of US$13 per ADS. The Company has granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to 3,000,000 additional ADSs. The ADSs have been approved for listing and are expected to begin trading on the Nasdaq Global Select Market on November 27, 2024 under the symbol "PONY." The Offering is expected to close on November 29, 2024 Eastern Time, subject to customary closing conditions. Goldman Sachs (Asia) L.L.C., Merrill Lynch (Asia Pacific) Limited, Deutsche Bank AG, Hong Kong Branch, Huatai Securities (USA), Inc., and Tiger Brokers (NZ) Limited are acting as underwriters for the Offering. Concurrently with, and subject to, the completion of this Offering, certain strategic third-party investors have agreed to purchase approximately US$153.4 million worth of Class A ordinary shares from the Company at a price per share equal to the Offering price adjusted to reflect the ADS-to-Class A ordinary share ratio, including (i) US$ equivalent of RMB500 million by JSC International Investment Fund SPC, (ii) US$ equivalent of RMB300 million by Guangzhou Nansha Chicheng Future Industry Investment Fund Partnership (Limited Partnership), (iii) US$27 million by Guangqipony Holdings Limited, and (iv) US$15 million by Kechuangzhihang Holdings Limited, in private placements exempt from registration with the United States Securities and Exchange Commission (the "SEC") under the Securities Act of 1933, as amended. The total gross proceeds to the Company from the Offering and the concurrent private placements are expected to be approximately US$413.4 million, assuming the underwriters of the Offering do not exercise their option to purchase additional ADSs, or approximately US$452.4 million if the underwriters choose to fully exercise their option to purchase additional ADSs. A registration statement related to the ADSs being sold in the Offering has been filed with, and declared effective by, the SEC. This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. This Offering is being made only by means of a prospectus forming a part of the effective registration statement. A copy of the final prospectus relating to the Offering may be obtained, when available, by contacting at the following underwriters: (i) Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282-2198, United States, or by telephone at +1-212-902-1171 or by email at prospectus-ny@ny.email.gs.com; (ii) Merrill Lynch (Asia Pacific) Limited, c/o BofA Securities, Inc., Attention: Prospectus Department, One Bryant Park, New York, NY, 10036, United States, or by telephone at +1 (800) 294-1322 or by email at dg.prospectus_requests@bofa.com; (iii) Deutsche Bank AG, Hong Kong Branch, Attention: Asia Equity Capital Market, Level 60, International Commerce Centre, 1 Austin Road West Kowloon, Hong Kong, or by phone at +852 22038166 or by email at asia.ecm.internal@list.db.com; (iv) Huatai Securities (USA), Inc., Attention: Prospectus Department, 280 Park Ave, 21 E, New York, NY 10017, or by telephone at +1-212-763-8168 or by e-mail at prospectus@htsc-us.com; and (v) Tiger Brokers (NZ) Limited, Attention: Vincent Cheung, Level 27, 151 Queen Street, Auckland Central, Auckland 1010, by calling +64 93-938-128, or by email at ProjectPegasus@itiger.com. About Pony AI Inc. Pony AI Inc. is a global leader in achieving large-scale commercialization of autonomous mobility. Leveraging its vehicle-agnostic Virtual Driver technology, a full-stack autonomous driving technology that seamlessly integrates Pony.ai's proprietary software, hardware, and services, Pony.ai is developing a commercially viable and sustainable business model that enables the mass production and deployment of vehicles across transportation use cases. Founded in 2016, Pony.ai has expanded its presence across China, Europe, East Asia, the Middle East and other regions, ensuring widespread accessibility to its advanced technology. For more information, please visit: http://ir.pony.ai. This press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to," and similar statements. Statements that are not historical facts, including statements about Pony.ai's beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in Pony.ai's filings with the SEC. All information provided in this press release is as of the date of this press release, and Pony.ai does not undertake any obligation to update any forward-looking statement, except as required under applicable law. For investor and media inquiries, please contact: Pony.ai Investor Relations Email: ir@pony.ai Media Relations Email: media@pony.ai Christensen Advisory Email: pony@christensencomms.com Market News and Data brought to you by Benzinga APIs

Pony.ai Lists on Nasdaq By Investing.com

NEW YORK--(BUSINESS WIRE)--NASDAQ MarketSite " Pony.ai, a global leader in autonomous driving technology, today listed on the Nasdaq Global Select Market (NASDAQ: PONY) and celebrated its initial public offering by ringing the Nasdaq opening bell. The IPO marks a significant milestone in Pony.ai's journey toward global leadership in the large-scale commercialization and mass production of autonomous vehicles. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241127418883/en/ The IPO offered 20 million American Depository Shares (ADSs) priced at $13.00 per share, raising approximately $260 million, or $299 million if including the 3 million ADSs over allotment option. In addition, strategic third-party investors, including JSC International Investment Fund SPC, Guangzhou Nansha Chicheng Future Industry Investment Fund and Kechuangzhihang Holdings Limited, participated in concurrent private placements totaling $153.4 million. Combined, these proceeds will accelerate Pony.ai's mission to deliver safe, sustainable, and accessible autonomous mobility solutions worldwide. Pony.ai co-founder and CEO, Dr. James Peng said: Since our founding in 2016, Pony.ai has grown into a global leader in the large-scale commercialization and mass production of autonomous mobility. This achievement would not have been possible without the unwavering support of our users, partners, shareholders, and employees. Over the past eight years, we have navigated the industry through cycles, and achieved remarkable breakthroughs in autonomous driving technologies. Now, as we reach this pivotal moment in our commercialization journey, we look forward to delivering safer, more efficient, and accessible mobility solutions for society. Today marks the beginning of a transformative chapter for Pony.ai, and the dawn of a new era for autonomous mobility. Pony.ai co-founder and CTO, Dr. Tiancheng Lou said: Our debut on Nasdaq is just the beginning of the profound ways in which autonomous driving technology will change the world. The journey to revolutionize mobility is akin to climbing Mount Everest - a path that demands perseverance, patience, and a commitment to a long-term vision. Through continuous innovation, we aim to achieve a technological transformation that will enable autonomous driving to surpass human drivers. Today's milestone Nasdaq listing strengthens our mission to redefine the driving experience, offering unprecedented levels of safety, efficiency, and convenience. We are pleased to see our vision take root globally as we continue shaping the future of mobility powered by AI. The offering was underwritten by leading global financial institutions, including Goldman Sachs (NYSE:GS) (Asia) L.L.C., Merrill Lynch (Asia Pacific) Limited, Deutsche Bank AG (NYSE:DB), Hong Kong Branch, Huatai Securities (USA), Inc., and Tiger Brokers (NZ). Shares are now trading under the ticker symbol PONY. About Pony.ai Pony AI Inc. (Pony.ai) is a global leader in the large-scale commercialization of autonomous mobility. Leveraging its vehicle-agnostic Virtual Driver technology " a full-stack autonomous driving technology that seamlessly integrates its proprietary software, hardware, and services, Pony.ai is developing a commercially viable and sustainable business model that enables the mass production and deployment of vehicles across transportation use cases. Founded in 2016, Pony.ai has expanded its presence across China, Europe, East Asia, the Middle East, and other regions, ensuring widespread accessibility to its advanced technology. Pony.ai is among the first in China to obtain licenses to operate fully driverless vehicles in all four Tier-1 cities in China (Beijing, Guangzhou, Shanghai, Shenzhen) and has begun to offer public-facing, fare-charging robotaxi services without safety drivers in Beijing, Guangzhou and Shenzhen. Pony.ai operates a fleet consisting of over 250 robotaxis. To date, Pony.ai has driven nearly 40 million autonomous testing and operation kilometers (nearly 24.8 million miles) on open roads worldwide. Registration Statement A registration statement relating to these securities has been filed with and declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy. Forward-Looking Statements This communication contains forward-looking statements based on current expectations, which are subject to risks and uncertainties that could cause actual results to differ materially. Please refer to our latest filings for a discussion of these factors.

Pony AI stock price: Chinese autonomous car company's Nasdaq IPO will be closely watched today

Pony AI is having its initial public offering today. The firm, which is based in Silicon Valley but also has a headquarters in Guangzhou, China, makes autonomous mobility tech that can turn cars into self-driving vehicles. Here's what you need to know about Pony AI and its IPO. Pony AI is an autonomous mobility company that was founded in 2016. Pony AI doesn't make cars itself. Instead, it makes the technology that allows cars to become autonomous. Pony AI operates Robotaxi: PonyPilot, a fleet of autonomous-driving Toyota Sienna Autono-MaaS vehicles. In 2024, Pony AI expanded its Toyota partnership to add Toyota bz4X SUVs to its Robotaxi fleet. Pony AI is also looking to disrupt the logistics sector with its Robotruck: PonyTron, which utilizes the Sany Heavy Truck. Pony AI's Robotaxi fleet currently operates in Beijing, Shanghai, Guangzhou, and Shenzhen, China.

Pony AI Inc. Announces Pricing of Initial Public Offering By Investing.com

GUANGZHOU, China, Nov. 27, 2024 (GLOBE NEWSWIRE) -- Pony AI Inc. (Pony.ai or the Company) (Nasdaq: PONY), a global leader in achieving large-scale commercialization of autonomous mobility, today announced the pricing of its initial public offering (the Offering) of 20,000,000 American depositary shares (ADSs), each representing one Class A ordinary share of the Company, at a price to the public of US$13 per ADS. The Company has granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to 3,000,000 additional ADSs. The ADSs have been approved for listing and are expected to begin trading on the Nasdaq Global Select Market on November 27, 2024 under the symbol "PONY." The Offering is expected to close on November 29, 2024 Eastern Time, subject to customary closing conditions. Goldman Sachs (Asia) L.L.C., Merrill Lynch (Asia Pacific) Limited, Deutsche Bank AG (NYSE:DB), Hong Kong Branch, Huatai Securities (USA), Inc., and Tiger Brokers (NZ) Limited are acting as underwriters for the Offering. Concurrently with, and subject to, the completion of this Offering, certain strategic third-party investors have agreed to purchase approximately US$153.4 million worth of Class A ordinary shares from the Company at a price per share equal to the Offering price adjusted to reflect the ADS-to-Class A ordinary share ratio, including (i) US$ equivalent of RMB500 million by JSC International Investment Fund SPC, (ii) US$ equivalent of RMB300 million by Guangzhou Nansha Chicheng Future Industry Investment Fund Partnership (Limited Partnership), (iii) US$27 million by Guangqipony Holdings Limited, and (iv) US$15 million by Kechuangzhihang Holdings Limited, in private placements exempt from registration with the United States Securities and Exchange Commission (the SEC) under the Securities Act of 1933, as amended. The total gross proceeds to the Company from the Offering and the concurrent private placements are expected to be approximately US$413.4 million, assuming the underwriters of the Offering do not exercise their option to purchase additional ADSs, or approximately US$452.4 million if the underwriters choose to fully exercise their option to purchase additional ADSs. A registration statement related to the ADSs being sold in the Offering has been filed with, and declared effective by, the SEC. This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. This Offering is being made only by means of a prospectus forming a part of the effective registration statement. A copy of the final prospectus relating to the Offering may be obtained, when available, by contacting at the following underwriters: (i) Goldman Sachs & Co (NYSE:GS). LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282-2198, United States, or by telephone at +1-212-902-1171 or by email at prospectus-ny@ny.email.gs.com; (ii) Merrill Lynch (Asia Pacific) Limited, c/o BofA Securities, Inc., Attention: Prospectus Department, One Bryant Park, New York, NY, 10036, United States, or by telephone at +1 (800) 294-1322 or by email at dg.prospectus_requests@bofa.com; (iii) Deutsche Bank (ETR:DBKGn) AG, Hong Kong Branch, Attention: Asia Equity Capital Market, Level 60, International Commerce Centre, 1 Austin Road West Kowloon, Hong Kong, or by phone at +852 22038166 or by email at asia.ecm.internal@list.db.com; (iv) Huatai Securities (USA), Inc., Attention: Prospectus Department, 280 Park Ave, 21 E, New York, NY 10017, or by telephone at +1-212-763-8168 or by e-mail at prospectus@htsc-us.com; and (v) Tiger Brokers (NZ) Limited, Attention: Vincent Cheung, Level 27, 151 Queen Street, Auckland Central, Auckland 1010, by calling +64 93-938-128, or by email at ProjectPegasus@itiger.com. About Pony AI Inc. Pony AI Inc. is a global leader in achieving large-scale commercialization of autonomous mobility. Leveraging its vehicle-agnostic Virtual Driver technology, a full-stack autonomous driving technology that seamlessly integrates Pony.ai's proprietary software, hardware, and services, Pony.ai is developing a commercially viable and sustainable business model that enables the mass production and deployment of vehicles across transportation use cases. Founded in 2016, Pony.ai has expanded its presence across China, Europe, East Asia, the Middle East and other regions, ensuring widespread accessibility to its advanced technology. For more information, please visit: http://ir.pony.ai. Safe Harbor Statement This press release contains statements that may constitute forward-looking statements pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as will, expects, anticipates, aims, future, intends, plans, believes, estimates, likely to, and similar statements. Statements that are not historical facts, including statements about Pony.ai's beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in Pony.ai's filings with the SEC. All information provided in this press release is as of the date of this press release, and Pony.ai does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Chinese Driverless-Tech Firm Pony AI Said to Raise $260 Million in US IPO

Pony AI Inc. raised $260 million after pricing its US initial public offering at the top of the marketed range, according to people familiar with the situation, signaling strong investor interest for autonomous-driving technology and Chinese listings in New York. The Guangzhou-headquartered company priced its American depositary shares at $13 each, the people said, asking not to be identified because the information isn't public. At the IPO price, Pony AI will have an implied market value of about $4.5 billion, based on the number of shares outstanding disclosed in a filing. Trading is due to start Wednesday.

China's robotaxi startup Pony AI raises $260 mln in US IPO

Nov 27 (Reuters) - China-based robotaxi company Pony AI said on Wednesday it had raised $260 million in its U.S. initial public offering, pricing its American depositary shares at $13 each. Reporting by Niket Nishant and Manya Saini in Bengaluru; Editing by Shilpi Majumdar and Tasim Zahid Our Standards: The Thomson Reuters Trust Principles., opens new tab Suggested Topics:Autos & TransportationADAS, AV & SafetyPartnerships & M&ASoftware-Defined VehicleChina Strategy