Pony AI Inc. plans to expand its robotaxi fleet to 3,000 vehicles by 2026, after reporting strong revenue growth in autonomous passenger services in its first earnings release since completing a dual listing in Hong Kong, reports Caixin. The bold expansion underlines the Chinese autonomous driving startup’s effort to scale operations and improve unit economics, even as it battles deepening losses and a sliding share price after its Hong Kong market debut.
Listed on both the Nasdaq and the Hong Kong Stock Exchange, Pony AI reported third-quarter revenue from its robotaxi segment surged 89.5% year-on-year to RMB 47.7 million ($6.7 million). As of Nov. 23, the company had 961 robotaxis in operation, up from 270 at the end of 2024 and 726 in late October. The rapid fleet expansion is largely driven by the mass production of its seventh-generation vehicles, manufactured in partnership with BAIC Group’s electric car unit Arcfox and GAC Aion. Some 667 units have already rolled off the production line.
The company said the cost of the autonomous driving system in its latest vehicles has declined 70% compared to the prior generation, with a further 20% reduction expected by 2026 as output scales. These vehicles are currently operating in Guangzhou, Shenzhen and Beijing.