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The company is shutting down its European operations simultaneously, and existing employees in Europe will have to reapply for new jobs.

TuSimple co-founder and former CEO Xiaodi Hou, who claims to be the company’s largest shareholder, is also seeking judicial aid in an increasingly bitter spat with former colleague Mo Chen.

With Pony’s offering, Chinese companies have raised $1.2 billion via U.S. IPOs this year, nearly double the amount in the same period in 2023 but below the heights seen during the pandemic.

Tesla Inc.’s post-election stock surge has more to do with market exuberance than actual improvement in the fundamentals of its business, UBS Group AG analysts cautioned in a report.

Uber Technologies plans to invest in Pony AI’s U.S. initial public offering, which is expected to be priced next week after being upsized by the autonomous driving firm.

The start of commercial operations for factory-built autonomous Class 8 tractors by Volvo Autonomous Solutions and Aurora Innovation is due in a matter of days.

Rotor Technologies has built two autonomous Sprayhawk helicopters and aims to have as many as 20 ready for market next year. For now, Rotor is focused on the agriculture sector.

Members of President-elect Donald Trump’s transition team have told advisers they plan to make a federal framework for fully self-driving vehicles a Transportation Department priority.

Autonomous vehicle maker Cruise has admitted to a federal charge and agreed to pay a $500,000 fine in connection with a crash last year involving one of its vehicles that left a person injured.

Pony.ai Inc. is looking to raise as much as $195 million from its U.S. initial public offering as automotive-related companies lead a modest pickup in Chinese listings.