Uber Plans to Invest in the Hong Kong Listings of Pony AI and WeRide

Uber Technologies Inc. is planning to invest in the Hong Kong listings of Pony AI Inc Inc. and WeRide Inc. Inc., according to people familiar with the matter, deepening the ride-hailing giant’s ties with the Chinese robotaxi firms.

Uber may invest about $100 million in Pony AI’s share sale, the people said, asking not to be identified because the information is private. Pony AI, which went public in the US last year, is looking to raise as much as $972 million in its Hong Kong listing, before an option to increase the size of the deal.

San Francisco-based Uber is also interested in WeRide’s listing, the people said, without disclosing an amount. Other investors could include Southeast Asia’s largest ride-hailing and delivery company Grab Holdings Ltd., Singapore state investor Temasek Holdings Pte and Robert Bosch GmbH, the people said.

Pony AI’s American depositary receipts rose about 9% in Tuesday trading, while WeRide’s climbed about 2%.

WeRide, which went public in the US a year ago too, launched a Hong Kong listing to raise as much as $398 million on Tuesday.

Talks are ongoing and the investment plans may change, the people said.

Uber didn’t immediately respond to a request for comment. Pony AI declined to comment and WeRide didn’t directly address questions on potential investors.

Uber invested in the US IPOs of both Pony AI and WeRide, while Bosch bought into WeRide as well. Uber announced an additional $100 million investment in WeRide in May. Uber also partnered with Pony AI earlier this year to launch in the Middle East, and it has joined forces with WeRide in Abu Dhabi.

Pony AI’s ADRs have climbed more than 50% since their debut in November 2024 through Monday. WeRide’s have fallen 28% since listing last October.

Singapore-based Grab has been making forays into driverless cars as well, unveiling an investment in Michigan-based May Mobility last week with the goal of bringing robotaxis to Southeast Asia as soon as next year. The deliveries firm has also invested in WeRide to jointly deploy robotaxi fleets across the region.

A Grab representative didn’t respond to questions on the WeRide deliberations. Temasek declined to comment and Bosch didn’t immediately reply.

Growth Plans

Pony AI is planning to use the proceeds from its Hong Kong listing for large-scale commercialization of its Level 4 autonomous driving technology in both robotaxi and robotruck services, as well as for research and development. The Guangzhou-based company has a goal to turn profitable in 2028 or 2029.

WeRide plans to use the funds from its listing to develop autonomous driving technology, accelerate commercial mass production of Level 4 fleets and expand over the next five years. It too has yet to turn a profit.