Pony AI is inching closer to its initial public offering in the U.S., but as it does so, it continues to drop its minimum target for what it hopes to

(Reuters) -Pony AI is seeking a valuation of up to $4.48 billion in its U.S. initial public offering, it said on Thursday, as the Chinese self-driving firm moves ahead with its long-sought plan for a New York listing.

Pony.ai Inc. is looking to raise as much as $195 million from its US initial public offering as automotive-related companies lead a modest pickup in Chinese listings.

Chinese autonomous driving company Pony AI on Thursday said it plans to raise up to $195M in its upcoming initial public offering in the US. Guangzhou-based Pony AI said in a filing with the US Securities and Exchange Commission that it intends to sell 15M American depositary shares at between $11 and $13 each,