(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 autonomous driving firm moves ahead with its long-sought plan for a New York listing.

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 raise in the transaction. Pony operates a fleet of 190 “robotrucks” in Beijing and Guangzhou and over 250 robotaxis in Beijing,

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,