The company's hardware platform, called PonyAlpha, utilizes radar, lidar, and on-board sensors to track the outside of the vehicle at all times. These pieces of hardware is what helped the company launch their autonomous freight delivery platform that began testing earlier this year in both China and the United States.
Pony.ai is one of only a handful of companies allowed to test their self-driving technology in both China and the US.
Toward the beginning of the year, Pony.ai fund raised $50 million making it one of the top self-driving car companies within China. Previous the company had fund raised $102 million, making their overall funding total to around $300 million at a $1 billion valuation.
However the company isn't alone in the market. Daimler also has a permit from the Chinese government to test their autonomous vehicles which use Baidu's Apollo platform. Optimus Ride has their own self-driving shuttle fleet operating in New York, Google's Waymo is already conducting tests and operating a small scale self-driving ride-hailing platform within the US, and GM's Cruise along with Tesla's own autonomous efforts are also substantial within the industry.