May Mobility agreed in 2026 to go public via a $1.4B SPAC as a pure-play robotaxi company

Autonomous driving company that sells vehicles to fleet partners and keeps remote supervision and software, earning fixed or per-trip fees

Public investors will back a pure-play autonomous ride-hailing company that sells vehicles to fleet partners instead of owning and running robotaxis

Could raise more than $300 million: a $120M PIPE plus up to $217M from the SPAC trust, subject to redemptions

Founded in 2017, May Mobility runs autonomous Toyota Siennas in three US locations, including a partnership with Lyft in Atlanta and rides in Eden Prairie and Grand Rapids, Minnesota. It pitches an asset-light, partnership-first model: it sells vehicles to fleet partners over time and keeps control of remote supervision and software updates.

Its deployments generated about $10M revenue last year with a cash burn of about $93M, and over 550,000 paid autonomous rides covering more than 1 million miles. It recently began a first trial in Japan and planned commercial launches in Arlington, Texas, with Uber at the end of 2026 or early 2027.

On 16 September 2026 May Mobility announced a merger with ACP Holdings Acquisition Corp., a SPAC set up by Atlas Credit Partners, at a $1.4B valuation. It would be the first US public company focused entirely on autonomous ride-hailing vehicles. Proceeds were earmarked for removing safety drivers and lowering bill-of-materials costs; SPAC shareholders could redeem and shrink the cash.

Cash burn of about $93M on about $10M revenue made new capital necessary

Removing safety drivers and cutting bill-of-materials costs needed R&D and supply-chain spending

A listing would give May Mobility a public-market currency as a pure-play robotaxi company

An asset-light model meant growth depended on partners such as Lyft and Uber, not on funding its own fleet

Going public through a SPAC trades certainty of a listing for uncertain cash, because redemptions can cut the trust money, so the plan has to survive a smaller raise.

As of 2026-09-16, the merger with ACP Holdings Acquisition Corp. had been announced but not completed, and the final cash raised depended on SPAC shareholder redemptions.