Trump Taps Former Rep. Duffy for Transportation Secretary as Pony AI Boosts IPO Target
President-elect Trump selects former Wisconsin Rep. Sean Duffy as transportation secretary, bringing an unpredictable approach to autonomous vehicle regulations. Meanwhile, Pony AI increases its US IPO fundraising goal to $260 million.
President-elect Trump selects former Wisconsin Rep. Sean Duffy as the next secretary of transportation, tasking him with overseeing a $107 billion annual budget. Duffy's legislative record shows little focus on transportation issues beyond a bill about logging vehicles, leaving tech insiders unsure about his future stance on autonomous vehicles and fuel efficiency standards.
Pony AI raises its US IPO ambitions as the Chinese autonomous driving company now aims to collect around $260 million. The company plans to sell up to 20 million American depository shares to reach this updated target, which is an increase from its previous goal of $224 million but still a significant drop from its earlier $425 million aspiration.
Other notable mobility updates include Salesforce CEO Marc Benioff sharing his love for electric vehicles and gadgets on the TechCrunch Equity podcast. Additionally, the TechCrunch Mobility newsletter takes a brief pause next Thursday for the Thanksgiving holiday, giving US readers a break to travel safely before the transportation news cycle resumes.