Singapore land transport operator ComfortDelGro C52 (CDG) has signed a memorandum of understanding (MOU) with autonomous vehicle technology company Pony.ai to carry out large-scale commercial robotaxi operations in China.
The collaboration will result in both companies co-develop tailored safe and sustainable autonomous vehicle (AV) solutions, according to a release.
This collaboration between CDG and Pony.ai is the latest milestone in CDG’s growth strategy. In 2022, the group established a $30 million Autonomous Vehicle Centre of Excellence (AV CoE) which focuses on developing capabilities for AV operations, maintenance, and building a technology platform for future AV-based mobility services.
The MOU was signed at the 14th Singapore-Guangdong Collaboration Council meeting co-chaired by Singapore’s Minister of Health Ong Ye Kung, and Guangdong Governor Wang Weizhong.
Pony.ai is located in Silicon Valley, Beijing and Guangzhou, and has raised more than US$1.1 billion ($1.47 billion) in nine funding rounds, according to the Tianyancha website. It was valued at $8.5 billion in early 2022 after its D-funding round, and has most recently received approval to list in the US.
Pony.ai says that it has received permits to operate fully autonomous driving mobility services in all of China's Tier-1 cities: Beijing, Shanghai, Guangzhou, and Shenzhen. The company says that it has already initiated autonomous driving partnerships and technological deployment in South Korea, Luxembourg, Saudi Arabia, and the United Arab Emirates.
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Cheng Siak Kian, CDG’s managing director and CEO says that this partnership will allow the group to explore the commercialisation of robotaxis operations first in China and subsequently in CDG’s other key markets. “We believe that AV technology will help in alleviating global driver shortage and meeting the transport demand of underserved areas,” says Cheng.
“ComfortDelGro has over 20 years of experience in transportation, with operations spanning 12 countries. Our collaboration will create new possibilities for the future of mobility and will extend the benefits of autonomous driving to a wider audience and to more regions, creating value to more people and societies,” says Pony.ai’s co-founder and CEO James Peng.
Shares in ComfortDelGro closed 1 cent lower or 0.714% down at $1.39.
