突破千辆，单车盈利，自动驾驶开始“自己赚钱”了？

Core Insights - The Chinese autonomous driving industry is experiencing significant breakthroughs in large-scale operations, with companies like Pony.ai and WeRide achieving fleet sizes exceeding 1000 vehicles, marking a transition from "technical validation" to "scaled service operations" [1][7] Company Developments - Pony.ai announced a fleet size of 1159 vehicles as of December 2025, while WeRide reached 1023 vehicles by January 2026, both entering the "thousand-vehicle era" [1][3] - Pony.ai's CEO emphasized the importance of vehicle density in urban areas for profitability, stating that reaching a fleet size of 1000 vehicles allows for a shift from loss-making to at least break-even operations per vehicle [3] - WeRide reported that its fleet in Abu Dhabi is approaching single-vehicle break-even, while Pony.ai achieved single-vehicle profitability in Guangzhou by optimizing its asset-light model [3][4] Market Positioning - Pony.ai is the only company authorized to operate autonomous ride-hailing services in all four first-tier cities in China, while WeRide has expanded its operations to 11 countries and over 30 cities [4] - The Abu Dhabi market is seen as an ideal environment for Robotaxi commercialization, with WeRide's daily ride volume nearing half that of traditional taxis [6] Industry Trends - The global Robotaxi market is projected to reach $66.6 billion by 2030, with China expected to account for over half of this market [7] - Major players like Waymo and Tesla are also in the Robotaxi space, with Waymo operating over 1500 vehicles and achieving significant ride volumes [7][8] Financial Performance - In Q3 2025, Pony.ai reported total revenue of 181 million yuan, a 72% year-over-year increase, while WeRide achieved 171 million yuan with a 144% growth rate [9] - Both companies are still in the investment phase, with Pony.ai's net loss increasing to 616 million yuan and WeRide's loss narrowing by 70.5% to 307 million yuan [9] - The companies have demonstrated the potential for positive marginal contributions from their Robotaxi businesses, but achieving overall profitability remains a challenge [9] Capital Market Activity - Both Pony.ai and WeRide went public in November 2025, establishing a dual listing in Hong Kong and the U.S. [10] - Pony.ai anticipates needing to deploy tens of thousands of Robotaxi vehicles to reach overall break-even, projecting a fleet size of 100,000 by 2030 [10]