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Image Credits:May Mobility8:27 AM PDT · September 16, 2026
Autonomous conveyance institution May Mobility is merging with a peculiar intent acquisition institution (SPAC) and volition go a publically traded company. It’s a woody that could rise much than $300 cardinal for May Mobility astatine a valuation of $1.4 billion, the institution said Wednesday.
Once the merger is complete, May Mobility said it volition beryllium the archetypal nationalist institution successful the U.S. that is focused wholly connected autonomous ride-hailing vehicles. This is meant to differentiate it from a fig of different nationalist companies moving connected autonomy, including Tesla, Rivian, Alphabet (with Waymo), and trucking-focused Aurora and Kodiak.
The determination sets up May Mobility to beryllium a trial of the banal market’s appetite for pure-play robotaxi ventures.
It volition besides beryllium a trial of May Mobility’s attack to autonomy, which it pitches arsenic “asset-light” and “partnership-first.” Instead of owning and operating the robotaxis, May Mobility’s concern revolves astir selling its autonomous vehicles to its fleet partners implicit clip portion maintaining power of immoderate distant supervision and bundle updates. In exchange, May Mobility receives either fixed fees oregon per-trip licensing fees.
Founded successful 2017, May Mobility presently operates autonomous Toyota Siennas successful 3 locations successful the U.S. It has a concern with Lyft successful Atlanta, and offers rides successful 2 cities — Eden Prairie and Grand Rapids — successful Minnesota.
These deployments helped May Mobility make astir $10 cardinal successful gross past year, with a currency pain of astir $93 million. It has offered much than 550,000 paid autonomous rides to date, covering much than 1 cardinal miles. The institution precocious spun up its archetypal proceedings deployment successful Japan and is readying commercialized launches successful Arlington, Texas, with Uber, astatine the extremity of this twelvemonth oregon successful aboriginal 2027.
May Mobility is merging with ACP Holdings Acquisition Corp., a peculiar intent acquisition institution established by Houston, Texas-based concern absorption institution Atlas Credit Partners. The merger volition impact a $120 cardinal “private concern successful nationalist equity” transaction, and up to $217 cardinal from a spot relationship maintained by ACP Holdings — though shareholders successful the SPAC whitethorn take to redeem their banal astatine the clip of the merger, which could trim the magnitude of wealth going to May Mobility.
May Mobility said Wednesday that it volition usage the proceeds to money much probe and development, particularly astir removing its information drivers, arsenic good arsenic proviso concatenation investments to trim its bill-of-materials costs. The institution is besides targeting caller geographic deployments, immoderate of which it expects to denote aboriginal this year.
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Sean O’Kane is simply a newsman who has spent a decennary covering the rapidly-evolving concern and exertion of the proscription industry, including Tesla and the galore startups chasing Elon Musk. Most recently, helium was a newsman astatine Bloomberg News wherever helium helped interruption stories astir immoderate of the astir notorious EV SPAC flops. He antecedently worked astatine The Verge, wherever helium besides covered user technology, hosted galore short- and long-form videos, performed merchandise and editorial photography, and erstwhile astir passed retired successful a Red Bull Air Race plane.
You tin interaction oregon verify outreach from Sean by emailing sean.okane@techcrunch.com oregon via encrypted connection astatine okane.01 connected Signal.
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