Toyota and Pony.ai have reached a strategic agreement, along with GAC-Toyota, to create a joint venture with an investment exceeding RMB 1 billion ($140 million). The main goal of this collaboration is to strengthen their position in the emerging robotaxi sector.
The joint venture aims to introduce robotaxi vehicles based on Toyota-branded all-electric models manufactured by GAC-Toyota. These vehicles will be equipped with Toyota’s T-Pilot driver-assistance system, featuring the PCS (Pre-Collision Safety System), to enhance safety measures for passengers using autonomous driving technology.
In addition, the joint venture will leverage Toyota’s renowned TPS (Toyota Production System) and utilize GAC-Toyota’s extensive dealership network to support Pony.ai’s progress in fully unmanned autonomous driving.
See also: Pony.ai Expands Unmanned Robotaxi Service to Shenzhen, China
Toyota and Pony.ai initiated their strategic partnership in 2019, with a focus on jointly advancing the development of high-level autonomous vehicles for mobile mobility services in China.
At present, Pony.ai operates approximately 200 robotaxi vehicles, modeled after the Lexus RX450h and Toyota Sienna, in Beijing, Guangzhou, Shenzhen, and Shanghai. Pony.ai has secured licenses for fully unmanned autonomous driving trials in Beijing and Guangzhou, indicating compliance with regulatory requirements.
The establishment of the joint venture is expected to accelerate the commercial application of high-level autonomous driving technology and explore mass production of robotaxi vehicles, according to Toyota.
Pony.ai, founded in 2016, has established R&D centers in strategic locations such as Silicon Valley, Guangzhou, Beijing, and Shanghai, which have played a key role in successfully launching and operating their robotaxi services.
See also: Pony.ai and SAIC AI Lab introduce the robotaxi concept with a foldable steering wheel
The company’s strong fundraising record, including investments from Nio Capital in 2019 and a $400 million investment from Toyota in February 2020, reflects investor confidence in Pony.ai’s vision.
In recent milestones, Pony.ai obtained a license in Beijing to operate unmanned in-vehicle robotaxi services within a designated area of the Yizhuang Economic Development Zone. Additionally, the company received approval for robotaxi operations without safety officers inside the vehicles in Guangzhou and Shenzhen, strengthening its position in the Chinese autonomous driving market.