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May Mobility is set to become the first U.S. publicly listed pure-play autonomous ride-hailing technology company by merging with ACP Holdings Acquisition.
The transaction values the combined entity at approximately $1.4 billion, with May Mobility expected to trade on the Nasdaq exchange under the ticker symbol MAY.
The deal aims to position the company within a rapidly expanding sector. The global robotaxi market is projected to reach $415 billion by 2035, with the U.S. accounting for a $48 billion portion of that total.
commercial autonomous vehicles is expected to grow from roughly 4,000 units to 35,000 by 2030. A year ago, Bank of America estimated the long-term U.S.
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