Toyota Bets Millions On A Pony: Chinese Autonomy Startup Pony.ai

Toyota bets millions on a Pony: Chinese autonomy startup Pony.ai

HONG KONG/BEIJING — Autonomous driving firm Pony.ai said on Wednesday it has raised $462 million (425 million pounds) in its latest funding round, led by an investment by Japan's largest automaker Toyota.

Toyota invested around $400 million in the round, Pony.ai said in a statement, marking its biggest investment in an autonomous driving company with a Chinese background.