May Mobility Has Agreed to Merge With ACP Holdings

The autonomous vehicle firm plans to list on the Nasdaq exchange following a $1.4 billion merger deal.

Updated on Oct. 3, 2026 in Robotics

Isometric editorial illustration of a modern autonomous electric shuttle parked on a simple, gridded urban street. — May Mobility has reached a merger agreement with ACP Holdings in a deal valued at $1.4 billion to bolster its autonomous vehicle operations. AI Illustration. Upload story photo >

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May Mobility announced plans to merge with ACP Holdings Acquisition in a deal that values the combined entity at $1.4 billion. The transaction is expected to provide the company with up to $337 million in funding as it prepares for a listing on the Nasdaq under the ticker symbol MAY.

Why it matters

This merger provides May Mobility with significant new capital to scale its operations and compete in the emerging robotaxi sector. The deal highlights the push for consolidation within the autonomous vehicle industry as companies aim for greater market share.

The company reported a 27% gross margin and $93 million in cash burn for 2025. It aims to reduce its bill of materials costs by 50% by the end of 2028.

The players

May Mobility

This is an autonomous vehicle company that develops self-driving technology for public transit and ride-sharing.

ACP Holdings Acquisition

This is a special purpose acquisition company involved in the merger deal.

Nasdaq

This is a global electronic marketplace for securities trading where the company intends to list.

The details

May Mobility maintains a business model that shifts vehicle and site operating expenses to fleet partners while retaining internal costs for software, field engineering, and remote supervision. The move comes as the U.S. autonomous vehicle fleet is projected to expand significantly over the next few years.

May Mobility generated $10 million in revenue during 2025.
The company targets a 50% reduction in bill of materials costs by the end of 2028.
The U.S. commercial autonomous fleet is expected to reach 35,000 vehicles by 2030.
The global robotaxi market is projected to reach $415 billion by 2035.

The Tech Race

This merger follows the industry trajectory toward the $415 billion global robotaxi market projected by 2035. It positions May Mobility to better compete against rivals in an environment where the U.S. autonomous fleet is expected to reach 35,000 vehicles by 2030.

The transition toward more autonomous vehicles may eventually offer users new transit options and ride-sharing services as fleet sizes grow. However, consumers will likely not see immediate changes to their daily commuting costs until the industry reaches higher levels of scale.

The takeaway

The merger provides a clearer path for May Mobility to secure the capital needed for long-term development in the autonomous sector. Investors and industry observers will look toward the 2028 cost-reduction targets as a key indicator of the company's future operational viability.