Self-Driving Firm Pony.ai Gets Funding From China Carmaker FAW
- FAW electric cars, trucks to utilize Pony.ai technology
- Startup seeking to boost its presence in China, the U.S.
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Self-driving technology startup Pony.ai struck a funding agreement with carmaker FAW Group, calling it the first strategic investment by a Chinese state-owned vehicle manufacturer into an autonomous-technology company.
As part of the pact, Pony.ai technology will be used in a vehicle platform that forms the basis of FAW’s Red Flag-branded electric cars, the startup said Tuesday. Pony.ai will also work with FAW’s Jiefang arm, the first time its technology will be used in trucks. The size of the investment wasn’t disclosed.