(Reuters) -Shares of Pony AI rose about 15% in their market debut on Wednesday, giving the robotaxi company a valuation of $5.25 billion, in an indication of a positive investor approach to China-based firms.

(Reuters) - China-based robotaxi company Pony AI said on Wednesday it had raised $260 million in its U.S. initial public offering, pricing its American depositary shares at $13 each. (Reporting by Niket Nishant and Manya Saini in Bengaluru; Editing by Shilpi Majumdar and Tasim Zahid)

Pony AI CEO James Peng emphasized the company's strategic focus on supply chain diversification and international market expansion following its Nasdaq debut, as the autonomous driving technology firm navigates ongoing U.

Shares of China-based autonomous driving company Pony.ai were up around 19% in early trading Wednesday after the company made its Nasdaq debut.

Shares of Pony AI opened about 15% above their offer price in their market debut on Wednesday, giving the robotaxi company a valuation of $5.25 billion, in an indication of a positive investor approach to China-based firms.

Pony.ai is one of the few companies with a Chinese background that has taken a similar approach to Waymo, Google’s self-driving car project.