Autonomous vehicle company May Mobility is merging with a special purpose acquisition company (SPAC) and will become a publicly traded company. It’s a deal that could raise more than $300 million for May Mobility at a valuation of $1.4 billion, the company said Wednesday.
Once the merger is complete, May Mobility said it will be the first public company in the U.S. that is focused entirely on autonomous ride-hailing vehicles. This is meant to differentiate it from a number of other public companies working on autonomy, including Tesla, Rivian, Alphabet (with Waymo), and trucking-focused Aurora and Kodiak.
