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Uber May Fund Kalanick’s Bid to Buy Pony AI’s US Arm
Uber is in early discussions with its founder, Travis Kalanick, about potentially funding his acquisition of Pony AI's U.S. division. If this deal goes through, Kalanick would operate Pony AI while still leading CloudKitchens, his current venture. The talks are at a preliminary stage, and no financial details have been disclosed. Following this news, shares of Uber and Pony AI experienced significant gains in stock trading.
Kalanick's departure from Uber’s leadership in 2017 and his exit from the board in 2019 marked the end of his formal association with the company he founded. In recent times, Uber has shifted its strategy to become a prominent platform for self-driving car manufacturers, moving away from developing self-driving technology internally. The company has formed several partnerships with various autonomous vehicle and software developers.
Despite these efforts, many investors remain cautious about Uber's long-term viability, especially with the increasing competition from companies like Waymo and Tesla, which are launching their own robotaxi services. Prior reports suggested Uber was considering investing in Pony AI during its U.S. initial public offering, although the specifics of that potential investment remain unclear.
Pony AI, originally from China, has maintained research and testing operations in the U.S. and Europe, with Toyota as its largest shareholder.
Expert opinion indicates that leveraging partnerships with established firms like Pony AI could provide Uber with a strategic advantage in the autonomous vehicle market, especially as consumer acceptance of robotaxi services grows. However, Uber must also navigate the skepticism of investors and continuously adapt to the rapidly changing landscape of the transportation sector.
Kalanick's departure from Uber’s leadership in 2017 and his exit from the board in 2019 marked the end of his formal association with the company he founded. In recent times, Uber has shifted its strategy to become a prominent platform for self-driving car manufacturers, moving away from developing self-driving technology internally. The company has formed several partnerships with various autonomous vehicle and software developers.
Despite these efforts, many investors remain cautious about Uber's long-term viability, especially with the increasing competition from companies like Waymo and Tesla, which are launching their own robotaxi services. Prior reports suggested Uber was considering investing in Pony AI during its U.S. initial public offering, although the specifics of that potential investment remain unclear.
Pony AI, originally from China, has maintained research and testing operations in the U.S. and Europe, with Toyota as its largest shareholder.
Expert opinion indicates that leveraging partnerships with established firms like Pony AI could provide Uber with a strategic advantage in the autonomous vehicle market, especially as consumer acceptance of robotaxi services grows. However, Uber must also navigate the skepticism of investors and continuously adapt to the rapidly changing landscape of the transportation sector.
Vehicle Guru