Pony AI announced Tuesday that its robotaxi revenue grew fivefold, marking a significant milestone for the Chinese autonomous vehicle company. The firm also raised its sales targets for the coming year.
Despite the revenue surge, the company reported widening losses in its latest financial disclosure. Pony AI attributed the increased costs to fleet expansion and continued research and development spending.
The stock rose in early trading following the earnings release. Investors appeared to focus on the revenue growth rather than the deepening losses.
Pony AI operates autonomous ride-hailing services in several Chinese cities. The company has been scaling operations to compete with rivals such as Baidu’s Apollo Go.
Management outlined plans to double its robotaxi fleet within the next six months. Executives expressed confidence in reaching profitability as utilization rates improve.
The company also reported growth in its trucking and logistics division. Autonomous freight routes have expanded to cover more than 1,000 miles of highway.
Regulatory approvals remain a key factor in Pony AI’s expansion timeline. The firm expects additional permits in new cities later this year.
