FREMONT, Calif.--(BUSINESS WIRE)--U.S.-China-based Pony.ai, a leading autonomous driving technology company, announced today that Lawrence Steyn, currently Vice Chairman of Investment Banking at JP Morgan, will join the company as Chief Financial Officer. Mr. Steyn will bring his nearly three decades of leadership in the financial industry to help accelerate Pony.ai’s commercial growth and global deployment.
“We are pleased to welcome Lawrence to join Pony.ai to help drive the next phase of growth,” said James Peng, CEO, and Founder of Pony.ai. “With the innovation and hard work of our extraordinary team, Pony.ai has emerged as an industry leader. Lawrence’s significant global expertise will help write the next chapter of our story.”
Mr. Steyn, a financial industry veteran executive, has led several of the largest and most consequential client relationships and transformational transactions, both strategic and in the capital markets. His relationships over his career have included leading global organizations such as General Electric, United Technologies, Honeywell, Emerson, and Ford and private equity firms such as Blackstone and Carlyle. He has held a variety of leadership roles, including Managing Director at Morgan Stanley and Executive Director of Goldman Sachs prior to JP Morgan.
“I am very excited at the opportunity to work alongside James and the Pony.ai team to build the future of transportation,” Mr. Steyn added. “Together, we’ll tackle some of the biggest challenges of our time and deliver products and services that change millions of lives for the better. I look forward to executing on the company’s priorities, accelerating growth, and enhancing value for shareholders and all stakeholders.”
Mr. Steyn holds an MBA from the Wharton School from the University of Pennsylvania and a BA with high honors from Harvard University.
Pony.ai recently announced regular and daily fully driverless testing in California that strengthens the company’s leading role in the industry. Mr. Steyn will join the world-class team to lead the charge in deploying full autonomy at scale.
Pony.ai, Inc. (“Pony.ai”) is pursuing an ambitious vision for autonomous mobility. We aim to bring safe, sustainable, and accessible mobility to the entire world. We believe that autonomous technology can make our roads exponentially safer for travelers. Founded in late 2016, Pony.ai has been a pioneer in autonomous mobility technologies and services across the U.S. and China, spearheading public-facing Robotaxi pilots in both markets. The company was last valued at $5.3B and some of its major investors include Toyota Motor Corporation, Ontario Teachers' Pension Plan, Sequoia Capital China, and IDG Capital. Pony.ai has formed partnerships with leading OEMs including Toyota, Hyundai, GAC Group, FAW Group, amongst others.