[241108] #Hyundai Motor #Pony.ai #TIER IV

1. Hyundai Motor Group will soon invite the new president of Moral, a U.S. joint venture

• Hyundai Motor Group plans to invite the new president of Moral, its U.S. joint venture for autonomous driving, to its board to reorganize its self-driving strategy.
• Laura Major, CEO and CTO of Moral, will visit Korea to discuss technology development and explore cooperation with Kia and the Namyang Research Institute.
• Hyundai Motor Group continues to invest in autonomous vehicle technology and future mobility, increasing its stake in Moral from 49.81% to 85% after investing 1.26 trillion won this year.
• Aptiv, Hyundai’s initial joint venture partner, is moving to withdraw from Moral due to the slow commercialization of self-driving cars, but Hyundai remains committed to the market’s potential.

2. Global Autonomous Driving Tech Company Pony.ai Files for IPO

• Pony.ai, a self-driving startup, has filed for an initial public offering (IPO) in the U.S., without disclosing the number of shares or price range.
• The company, founded in 2016, operates robotaxi services in Chinese cities and has partnered with Toyota to mass-produce robotaxis in China.
• Pony.ai posted a loss of $120.3 million in 2023, with $71.9 million in revenue, and plans to use IPO proceeds for market strategies, R&D, and general corporate purposes.
• Goldman Sachs, Merrill Lynch, and others will underwrite the offering, with shares to be listed on Nasdaq under the ticker PONY.

Self-driving startup Pony.ai has filed for an IPO on Nasdaq, planning to use the funds for market expansion, research, and development, after reporting a $120.3 million loss in 2023.

3. HL Holdings’s HL Robotics Acquires “Stanley Robotics”

• HL Robotics, a subsidiary of HL Holdings, is set to acquire Stanley Robotics, the first company to commercialize outdoor valet parking robots, with the deal expected to finalize by year-end.
• The acquisition positions HL Robotics to capture a growing autonomous parking market worth USD 6.7 billion by 2030, driven by urbanization and space shortages.
• Stanley Robotics’ flagship product, “Stan,” an autonomous valet parking robot, is commercially successful in Europe and North America, with significant potential for expansion.
• The company’s Fleet Management System (FMS) enhances Stan’s efficiency, utilizing digital twin technology for real-time monitoring and automatic charging capabilities.
• HL Robotics aims to lead the global parking robot market and further expand its robotic solutions portfolio for everyday consumers.

4. Robotaxis on the roads: China’s Baidu eyes overseas rollout as autonomous driving race heats up

5. Bosch opens new R&D, manufacturing site for NEV parts, autonomous driving in Suzhou

• Bosch Automotive Products (Suzhou) Co., Ltd. has opened a new R&D and manufacturing site for NEV and autonomous driving components in Suzhou Industrial Park.
• The facility spans 300,000 square meters and focuses on developing and producing core components for new energy passenger and commercial vehicles.
• Construction began in March 2023 and was completed efficiently within a year, with mass production starting in the second half of 2024.
• The P7+ is a sporty, spacious sedan with a driving range of up to 710 kilometers, premium features like heated and ventilated seats, and a competitive price range.
• The production area covers 70,000 square meters, and additional facilities, including automated logistics, are expected to be operational by Q4 2025.
• The new site consolidates divisions to enhance cooperation and offer comprehensive services.