China’s Pony.ai plans to triple global robotaxi fleet by the end of 2026

Chinese autonomous conveyance exertion institution Pony.ai said Tuesday it plans to triple the size of its robotaxi fleet by the extremity of adjacent twelvemonth arsenic its gait of maturation — and aspirations — accelerates.

The company, which has astir 961 robotaxis successful the fleet today, announced the extremity during its third-quarter earnings. Pony.ai is targeting a 1,000-robotaxi conveyance fleet by the extremity of this year. Its extremity is to “surpass” 3,000 vehicles by the extremity of 2026, the institution said successful its third-quarter net report.

Pony.ai, which is publically traded connected the Nasdaq Exchange and Stock Exchange of Hong Kong, has spent the twelvemonth ramping up its commercialized operations. Today, the institution offers commercialized robotaxi services — meaning it charges for these rides — successful Beijing, Shanghai, Guangzhou, and Shenzhen.

The institution besides has aspirations to standard beyond the borders of China. Pony.ai is pushing into 8 countries, including Qatar and Singapore, done partnerships with section companies arsenic good arsenic ride-hailing companies Bolt and Uber.

The ramp up successful robotaxi services has had the dual effect of expanding gross on with costs. The institution reported gross of $25.4 cardinal successful the 3rd quarter, a 72% summation from the $14.8 cardinal it generated successful the aforesaid year-ago period.

Shares of Pony.ai popped connected the Nasdaq much than 6% pursuing its net report.

Pony.ai said the emergence successful gross was driven by robotaxi services and licensing its exertion to different companies. The Guangzhou, China-based institution brought successful $6.7 cardinal successful gross from robotaxi services, $10.2 cardinal from its self-driving trucks called robotrucks, and $8.6 cardinal successful licensing and exertion fees.

The company’s expenses are inactive outpacing revenue. Pony.ai reported a nett nonaccomplishment of $61.6 cardinal successful the 3rd quarter, a 46% summation since the aforesaid play successful 2024.

Pony.ai had $587.7 cardinal successful currency and currency equivalents, and short-term investments arsenic of September 30, an magnitude that has decreased from $747.7 cardinal successful the 2nd 4th of the year. Pony.ai said fractional of that alteration was from a one-off currency outflow that included concern into its associated task with Toyota to enactment the accumulation and deployment of its Gen-7 vehicle.