Pony.ai claims it has achieved profitability per bike on a city-by-city basis.
On November 25, Pony.ai (PONY.US; 2026.HK), an autonomous driving company, released its Q3 2025 financial report, showing total revenue of RMB 181 million, a year-on-year increase of 72%; and a non-GAAP net loss of RMB 391 million, a year-on-year increase of 32.85%. Robotaxi revenue reached RMB 47.7 million, a year-on-year increase of 89.5%.
The financial report stated that the revenue growth was primarily driven by strong growth in Robotaxi and technology licensing and application revenue.
Pony.ai's seventh-generation Robotaxi began fully driverless commercial operation in Beijing, Guangzhou, and Shenzhen in November. The company stated that the seventh-generation Robotaxi has achieved profitability per vehicle in Guangzhou, with an average of 23 orders per vehicle per day.
Pony.ai continues to push for the mass production and commercialization of Robotaxi, accelerating the mass production process of three seventh-generation Robotaxi models developed in cooperation with BAIC, GAC, and Toyota in the third quarter. In its financial report, Pony.ai anticipates that the production cost of the seventh-generation Robotaxi will further decrease in 2026, with the BOM (Bill of Materials) cost of its autonomous driving kit expected to drop by another 20% compared to this year's level.
In terms of mass production progress, Pony.ai has a total of 961 Robotaxi vehicles, of which 667 are seventh-generation Robotaxi. The company expects to achieve its goal of having a fleet of more than 1,000 vehicles ahead of schedule this year, and plans to triple the scale to more than 3,000 vehicles by the end of 2026.
In terms of operations, Pony.ai stated that it has partnered with taxi and ride-hailing platform companies such as Shenzhen West Lake Group and Sunshine Mobility to carry out technical and operational cooperation through a "light asset + AI empowerment" model, and jointly build a large-scale autonomous driving fleet based on the seventh-generation Robotaxi in first-tier cities such as Shenzhen or Guangzhou.
Regarding its global expansion, the financial report states that its Robotaxi service already covers eight countries. Through partnerships with multinational automotive group Stellantis, as well as ride-hailing platforms such as Uber, ComfortDelGro, and Qatar National Transport Company, the company continues to deepen its Robotaxi operations in Europe and the Middle East, and has officially launched Robotaxi testing in Dubai (UAE), Punggol (Singapore), and Doha (Qatar). Furthermore, Uber and another international ride-hailing giant, Bolt, are strategic shareholders of Pony.ai.
On November 6th of this year, Pony.ai was listed on the Hong Kong Stock Exchange. According to Dazhihui VIP, as of the closing on November 25th, Pony.ai rose 9.32%, closing at HK$96.2 per share. In pre-market trading on the US stock market on the 25th, Pony.ai's stock price rose over 12%.
