Pony AI Inc., a Chinese company that makes technology for self-driving taxis and trucks, has set plans to raise up to $195 million in its U.S. initial public offering. Pony AI said it plans to offer 15 million American depositary shares at an estimated price range of $11 to $13 a share for trading on the Nasdaq under the symbol “PONY,

By Arasu Kannagi Basil (Reuters) -Pony AI is seeking a valuation of up to $4.48 billion in its U.S. initial public offering, it said on Thursday, as the Chinese self-driving firm moves ahead with its long-sought plan for a New York listing.

Pony AI is inching closer to its initial public offering in the U.S., but as it does so, it continues to drop its minimum target for what it hopes to raise in the transaction. Pony operates a fleet of 190 “robotrucks” in Beijing and Guangzhou and over 250 robotaxis in Beijing,