This article only represents the author's own views.

Late last month, the automotive world was focused on Beijing as the city hosted China’s premier annual auto show. Among the many flashy exhibits, a seventh-generation Toyota bZ4X Robotaxi concept car from Pony.ai was a major crowd pleaser. The model showcased not only the company's partnership with a major automaker, but also its commitment to fully autonomous vehicles – even as many of its rivals are looking at lower-tech assisted-driving technologies that can be commercialized more quickly.

Ahead of the show, Pony.ai received a significant boost on the financial front when China's securities regulator approved the company's plans for a U.S. listing. Pony.ai intends to sell up to 98 million shares and list on the Nasdaq or the New York Stock Exchange, according to an announcement on the China Securities Regulatory Commission’s website dated April 22.