Orrick has advised Toyota Motor on its $400 million investment in autonomous driving company Pony.ai’s Series C round. This is Toyota’s biggest investment in an autonomous driving company based in China.
Pony.ai raised $462 million in this funding round, with the additional $62 million raised by existing investors. The funds will be used to further expand the collaboration in autonomous driving technology development and mobility services deployment between Toyota and Pony.ai.
The cross-border Orrick team advising Toyota included Jeff Zhang, Hiroki Sugita, Matthew Gemello, Lorraine McGowen, Martha Wang, Benjamin Miller, Anri Nakamoto, Diana Gillis, Keith Tidwell, Yanni Zeng, Max Hyatt, Peter Connors, Harry Clark, Jim Tierney and Stephen Lessard.