Chinese language autonomous automobile expertise firm Pony.ai mentioned Tuesday it plans to triple the dimensions of its robotaxi fleet by the tip of subsequent 12 months as its tempo of progress — and aspirations — accelerates.
The corporate, which has about 961 robotaxis within the fleet right now, introduced the aim throughout its third-quarter earnings. Pony.ai is focusing on a 1,000-robotaxi automobile fleet by the tip of this 12 months. Its aim is to “surpass” 3,000 automobiles by the tip of 2026, the company said in its third-quarter earnings report.
Pony.ai, which is publicly traded on the Nasdaq Trade and Inventory Trade of Hong Kong, has spent the 12 months ramping up its business operations. Right this moment, the corporate presents business robotaxi providers — which means it fees 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 international locations, together with Qatar and Singapore, by 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 mentioned 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 vehicles known as robotrucks, and $8.6 million in licensing and software charges.
The corporate’s bills are nonetheless outpacing income. Pony.ai reported a web 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 12 months. Pony.ai mentioned 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.
