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

Core Insights - Pony.ai plans to triple its robotaxi fleet by the end of next year, aiming for over 3,000 vehicles by the end of 2026, with a target of 1,000 vehicles by the end of this year [1][3] Fleet Expansion - The current fleet consists of approximately 961 robotaxis, with plans to significantly increase this number [1] - The company is expanding its commercial robotaxi services in major Chinese cities such as Beijing, Shanghai, Guangzhou, and Shenzhen [2] International Growth - Pony.ai is looking to expand its operations internationally, targeting eight countries including Qatar and Singapore through partnerships with local firms and ride-hailing companies like Bolt and Uber [3] Financial Performance - In the third quarter, Pony.ai reported revenue of $25.4 million, a 72% increase from $14.8 million in the same period last year [3][4] - Revenue sources include $6.7 million from robotaxi services, $10.2 million from self-driving trucks (robotrucks), and $8.6 million from licensing and application fees [4] Cost and Losses - Despite revenue growth, expenses are outpacing revenue, leading to a net loss of $61.6 million in the third quarter, a 46% increase from the same period in 2024 [5] - As of September 30, the company had $587.7 million in cash and cash equivalents, down from $747.7 million in the previous quarter, with part of the decrease attributed to investments in a joint venture with Toyota [6]