May Mobility heads towards Nasdaq at $1.4 billion
May Mobility plans to go public in a transaction giving the autonomous driving company an enterprise valuation of about $1.4 billion.
Autonomous driving company May Mobility has announced plans to go public through a merger with ACP Holdings Acquisition Corp.
The transaction gives the company a pro forma enterprise valuation of approximately $1.4 billion and could provide up to $337 million in gross proceeds.
May Mobility generated approximately $10 million of revenue in 2025, according to transaction information reported by Axios.
That makes the valuation particularly interesting.
The company is increasingly pursuing an Autonomy as a Service model.
Rather than owning every vehicle and operating every fleet itself, partners can own and operate vehicles while May supplies autonomous driving technology.
WHY IT MATTERS
This could become an important business model for autonomous mobility. Think of it as separating:
- Vehicle ownership
- from
- Fleet operation
- from
- Autonomous intelligence.
- If autonomy eventually becomes a software layer rather than a vehicle business, the potential addressable market changes dramatically.
Sources
This story first appeared in The Fleet Brief Issue 003, published 16 September 2026.