Chinese autonomous vehicle technology company Pony.ai said on Tuesday it plans to triple the size of its robotaxi fleet by the end of next year as its pace of growth – and its ambitions – accelerate.
The company, which has about 961 robots in its fleet today, announced the goal during its third-quarter earnings call. Pony.ai is targeting a fleet of 1,000 robotaxi vehicles by the end of this year. Its goal is to “exceed” 3,000 vehicles by the end of 2026. the company said in the third quarter earnings report.
Pony.ai, which is publicly traded on the Nasdaq Stock Exchange and the Hong Kong Stock Exchange, has spent the year ramping up its trading activities. Today, the company offers commercial robotaxi services — meaning it charges for these rides — in Beijing, Shanghai, Guangzhou and Shenzhen.
The company also has ambitions to expand beyond China’s borders. Pony.ai is pushing into eight countries, including Qatar and Singapore, through partnerships with local companies as well as ride-hailing companies Bolt and Uber.
The growth of robotaxi services has had the dual effect of increasing revenue along with costs. The company reported revenue of $25.4 million in the third quarter, a 72% increase from the $14.8 million it generated in the same period last year.
Shares of Pony.ai rose more than 6% on the Nasdaq after its earnings report.
Pony.ai said the revenue growth was due to its robotaxi services and licensing of its technology to other companies. The Guangzhou, China-based company generated $6.7 million in revenue from robotaxi services, $10.2 million from its autonomous trucks called robotrucks and $8.6 million in licensing and application fees.
The company’s expenses continue to exceed revenues. Pony.ai reported a net loss of $61.6 million in the third quarter, up 46% from the same period in 2024.
Pony.ai had $587.7 million in cash and cash equivalents and short-term investments as of Sept. 30, down from $747.7 million in the second quarter of the year. Pony.ai said half of that decline came from a one-time cash outflow that included investments in its joint venture with Toyota to support production and development of its Gen-7 vehicle.
