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Chinese language autonomous automobile expertise firm Pony.ai stated Tuesday it plans to triple the scale of its robotaxi fleet by the tip of subsequent yr as its tempo of progress — and aspirations — accelerates.
The corporate, which has about 961 robotaxis within the fleet right this moment, introduced the purpose throughout its third-quarter earnings. Pony.ai is focusing on a 1,000-robotaxi automobile fleet by the tip of this yr. Its purpose is to “surpass” 3,000 autos by the tip of 2026, the corporate stated in its third-quarter earnings report.
Pony.ai, which is publicly traded on the Nasdaq Alternate and Inventory Alternate of Hong Kong, has spent the yr ramping up its industrial operations. At the moment, the corporate affords industrial robotaxi providers — that means it costs for these rides — in Beijing, Shanghai, Guangzhou, and Shenzhen.
The corporate additionally has aspirations to scale past the borders of China. Pony.ai is pushing into eight nations, together with Qatar and Singapore, by way of partnerships with native firms in addition to ride-hailing firms Bolt and Uber.
The ramp up in robotaxi providers has had the twin impact of accelerating income together with prices. The corporate reported income of $25.4 million within the third quarter, a 72% improve from the $14.8 million it generated in the identical year-ago interval.
Shares of Pony.ai popped on the Nasdaq greater than 6% following its earnings report.
Pony.ai stated the rise in income was pushed by robotaxi providers and licensing its expertise to different firms. The Guangzhou, China-based firm introduced in $6.7 million in income from robotaxi providers, $10.2 million from its self-driving vans known as robotrucks, and $8.6 million in licensing and software charges.
The corporate’s bills are nonetheless outpacing income. Pony.ai reported a internet lack of $61.6 million within the third quarter, a 46% improve because the identical interval in 2024.
Pony.ai had $587.7 million in money and money equivalents, and short-term investments as of September 30, an quantity that has decreased from $747.7 million within the second quarter of the yr. Pony.ai stated half of that lower was from a one-off money outflow that included funding into its three way partnership with Toyota to assist the manufacturing and deployment of its Gen-7 automobile.
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