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Autonomous vehicle company May Mobility announced plans to go public through a $1.4 billion SPAC merger, a deal expected to net the asset-light robotaxi company more than $300 million in new funding. The move reflects continued investor interest in autonomous vehicle technology despite broader market caution around self-driving ventures. The transaction would give May Mobility access to public capital markets as it seeks to scale its robotaxi operations, joining a wave of autonomous vehicle firms pursuing alternative paths to going public amid a challenging traditional IPO environment.
Sources:TechCrunch