Second Quarter 2025 Business Review JULY 30, 2025 1 © 2025 | AURORA PROPRIETARY Cautionary statement regarding forward-looking statements This presentation contains certain forward-looking statements within the meaning of the federal securities laws. All statements contained in this presentation that do not relate to matters of historical fact should be considered forward-looking statements, including but not limited to, those statements around our ability to achieve certain milestones around, and realize t ...

Group 1 - Waymo plans to launch a robotaxi service in Dallas next year, expanding its commercial operations which already include Los Angeles and San Francisco [1][6] - The company is partnering with Avis Budget Group to manage its fleet of all-electric autonomous Jaguar I-Pace vehicles, with Avis handling depot operations such as charging and maintenance [1][2] - Waymo has previously partnered with companies like Uber and Moove, but this marks the first collaboration with a rental car company, indicating a potential for future expansions to other cities [2] Group 2 - Waymo has conducted preliminary testing in Dallas, including mapping the city and testing autonomous vehicles on public roads with a human safety operator [3] - The fleet is expected to scale to hundreds of vehicles over time, although specific launch dates and initial fleet size have not been disclosed [4] - Waymo currently operates commercially in five cities and plans to launch services in Washington, D.C., and Miami next year [6]

Summary of Pony AI Inc. (PONY) Conference Call Company Overview - **Company**: Pony AI Inc. (PONY) - **Industry**: Autonomous Vehicle Technology, specifically focusing on Robotaxi services Key Points and Arguments Regulatory Developments - Pony AI has received a permit to offer fully driverless commercial Robotaxi services in the Shanghai Pudong New Area, allowing the company to charge passengers [1] - The company plans to launch driverless services initially in Jinqiao and Huamu districts, with plans to expand to other areas in Shanghai [2] Expansion of Services - The company operates driverless Robotaxis in all four tier-1 cities: Shanghai, Beijing, Shenzhen, and Guangzhou [1] - Pony AI has initiated 24/7 Robotaxi testing in Beijing, Shenzhen, and Guangzhou, enhancing operational availability and potentially increasing revenue per vehicle [3] Technological Advancements - Pony AI has started road testing its Gen-7 Robotaxi model in major cities, collaborating with GAC, BAIC, and Toyota to reduce hardware costs and improve software capabilities [4] - The Gen-7 Robotaxi is expected to enhance gross profits per vehicle due to lower costs and improved technology [4] Financial Outlook - Goldman Sachs has set a 12-month price target of $26.00 for Pony AI, indicating a potential upside of 71.8% from the current price of $15.13 [12][14] - Revenue projections for the upcoming years are as follows: $75 million in 2024, $80.3 million in 2025, $96.6 million in 2026, and $150.4 million in 2027 [14] Risks and Challenges - Key downside risks identified include regulatory challenges, supply chain issues, market growth for Robotaxis, personal information security, infrastructure limitations, pricing competition, and product liability [13] Market Position - Pony AI is positioned as a strong player in the autonomous vehicle market, with a focus on expanding its Robotaxi services and enhancing its technological capabilities [1][4] Additional Important Information - The company is currently valued at approximately $5.3 billion, with an enterprise value of $5.0 billion [14] - Analysts maintain a "Buy" rating on Pony AI, reflecting confidence in its growth potential and market strategy [1][12]

Core Insights - Pony.ai has received a permit for fully driverless commercial Robotaxi services in Shanghai's Pudong New Area, marking a significant milestone in the company's efforts to commercialize autonomous mobility in a major urban market in China [1][2] - The company is now the only one with fully driverless commercial Robotaxi service permits in all four tier-one cities in China: Beijing, Shanghai, Guangzhou, and Shenzhen [2] - The launch of services will begin in the Jinqiao and Huamu areas, which are strategically located near key financial and commercial hubs, providing substantial commercial opportunities [3] Company Overview - Pony.ai is a global leader in the commercialization of autonomous mobility, utilizing its vehicle-agnostic Virtual Driver technology to develop a sustainable business model for mass production and deployment of autonomous vehicles [4] - Founded in 2016, the company has expanded its operations across various regions, including China, Europe, East Asia, and the Middle East, ensuring broad accessibility to its advanced technology [4]

Core Insights - Lyft will introduce autonomous shuttles from Benteler Group to its network by late 2026, in collaboration with U.S. cities and airports, with potential for future expansion [1] - The shuttles will be electric, branded under Holon, and designed without steering wheels or pedals, accommodating up to nine seated and six standing passengers [2] - Lyft is still in the process of integrating autonomous vehicles into its fleet, with plans to add AVs from May Mobility in Atlanta later this year and is collaborating with Mobileye for technology [3] Company Developments - The partnership with Benteler allows Lyft to utilize urban electric shuttles, enhancing its service offerings amid competition from Uber, which is expanding its robotaxi fleet [2] - Lyft's ongoing efforts to incorporate autonomous vehicles include testing with various partners, indicating a gradual approach to AV integration [3] - The technology powering the Holon shuttles comes from Mobileye, although Lyft clarified that the current deals are separate from those involving Mobileye [3] Competitive Landscape - Lyft's announcement comes at a time when Uber is aggressively expanding its robotaxi services with multiple partnerships, highlighting the competitive dynamics in the autonomous vehicle market [2] - The introduction of Benteler's shuttles may position Lyft to better compete with Uber's advancements in the autonomous transportation sector [2] - Lyft's strategy to partner with established manufacturers like Benteler reflects a trend in the industry towards collaboration for technological advancement [1][2]

Core Insights - Xiaoma Zhixing has launched 24/7 autonomous driving tests in Beijing, Guangzhou, and Shenzhen, expanding testing hours from 7 AM to 11 PM to all day [2] - The company has received L4 autonomous driving testing permits for its seventh-generation vehicles in these cities, aiming to deploy a fleet of 1,000 autonomous vehicles in the second half of the year [2] - Xiaoma Zhixing has accumulated over 50 million kilometers of autonomous driving testing mileage across various cities, with 500,000 hours of fully unmanned operation experience [2] Company Developments - The company aims to address nighttime travel challenges by exploring practical scenarios for autonomous driving during night hours, enhancing traffic safety [2] - Xiaoma Zhixing's Vice President stated that achieving a fleet size of 1,000 Robotaxis in major cities would allow for operational breakeven, leading to lower costs and higher gross margins with each additional vehicle [3] Industry Challenges - The commercialization of Robotaxi faces challenges in technology, regulations, production capacity, and operational capabilities [4] - Key industry focus areas include developing vehicles that can handle complex human environments, improving production capabilities to reduce costs, and ensuring stable 24/7 fleet operations [4] - A positive cycle of "technology iteration - cost reduction - scale expansion" is necessary for true commercialization [4]

Core Insights - Pony.ai has launched 24/7 Robotaxi operations in Guangzhou and Shenzhen, expanding its operational capabilities significantly [1] - The company has extended its Robotaxi testing in Beijing to a full 24-hour schedule, indicating a broader commitment to autonomous driving technology [1] Group 1: Operational Expansion - The new initiative marks a significant advancement in Pony.ai's operations, increasing the Robotaxi service window from 15 hours to 24 hours daily [1] - The company has conducted over 50 million kilometers of autonomous testing globally, validating its systems under various traffic and lighting conditions [2] Group 2: Safety and Performance - Pony.ai's autonomous driving system, referred to as the "virtual driver," has achieved over 500,000 hours of driverless operation, boasting a safety record up to ten times safer than human drivers [3] - The advanced multi-sensor fusion architecture includes 128-beam LiDAR, 8-megapixel cameras, and 4D imaging millimeter-wave radar, providing comprehensive 360-degree perception [4] Group 3: Technological Advancements - The use of active sensing technologies like LiDAR and radar enhances the system's ability to detect low-contrast objects and navigate in low-light conditions [5] - The seventh-generation Robotaxi fleet is equipped with a proprietary sensor self-cleaning system to maintain reliability in adverse weather conditions [6] Group 4: Market Positioning - By scaling its Robotaxi fleet across major cities, Pony.ai aims to reshape urban transportation and improve late-night mobility, emphasizing safety and availability [7] - The continuous operation of Robotaxis is positioned as a new travel option for late-night commuters, enhancing urban mobility solutions [8]

Core Insights - Kodiak Robotics has appointed Mohamed "Mo" Elshenawy to its board of directors, enhancing its technology and self-driving leadership as it prepares for a public listing through a merger with Ares Acquisition Corporation II [1][6] - Elshenawy brings over two decades of experience in AI, product, and engineering across various sectors, including autonomous mobility and e-commerce, which will be crucial for Kodiak's growth [1][3] - The company aims to scale its autonomous trucking platform and has previously announced the addition of other experienced board members, Ken Goldman and Kristin Sverchek, to strengthen its leadership [5] Company Overview - Kodiak Robotics, founded in 2018, specializes in AI-powered autonomous vehicle technology, focusing on addressing supply chain challenges through driverless solutions [7] - The Kodiak Driver, a virtual driver, combines advanced AI software with modular hardware, and is already operational without a human driver [7] - Kodiak aims to become a leader in autonomous ground transportation, serving both commercial and public sector clients [7] Leadership Experience - Elshenawy previously served as President and CTO at Cruise LLC, where he led the launch of the first commercial driverless rideshare service in San Francisco [2][3] - His experience includes technology leadership roles at Amazon, where he managed global engineering for the ReCommerce business and developed a retail big data analytics platform [3][4] - Elshenawy holds over 10 patents in AI, robotics, and autonomous vehicles, and is involved with the Software Advisory Board at Mercedes-Benz [4] Business Combination - Kodiak's merger with Ares Acquisition Corporation II is expected to close in the second half of 2025, pending stockholder approval and customary closing conditions [6] - Upon completion, the combined entity will be named Kodiak AI, Inc., with its stock expected to trade under the ticker symbols KDK and KDK WS [6]

Core Insights - Pony.ai has achieved a significant milestone with its Level 4 (L4) automotive-grade autonomous driving domain controller, surpassing 2 million kilometers of on-road testing, showcasing its hardware reliability and software adaptability [1] - The seventh-generation autonomous driving system, unveiled at the Shanghai Auto Show, is designed for a lifecycle of 10 years or 600,000 kilometers, representing a major advancement in performance, durability, and cost-efficiency [2] - The domain controller utilizes three NVIDIA OrinX chips and a fourth for redundancy, delivering 1,016 TOPS of computing power, while achieving a 50% to 80% reduction in size, weight, power consumption, and cost [3] Cost Efficiency and Lifecycle - Pony.ai has reduced the domain controller's cost by 80% compared to the previous generation, significantly lowering the total lifecycle cost of the system [2] - The integration of various essential functions into a single unit has streamlined vehicle layout, reduced manufacturing costs, and minimized potential failure points [4] Safety Features - The system incorporates a multi-layered safety architecture with "Fail Operational" capability, allowing seamless switching to a redundant system in case of primary system failure [5] - The "safety first" philosophy is emphasized through full-vehicle redundancy and advanced algorithmic intelligence, enabling the system to consistently outperform human driving capabilities [6] Production and Expansion - Pony.ai's seventh-generation Robotaxis are now in mass production, with a planned fleet of 1,000 autonomous vehicles in 2025, marking a key step towards achieving economies of scale and operational excellence [7]

财料 无人驾驶出租车发展到哪儿了？Robotaxi头部企业整理 相关链接 | 200 | OCOlo | 1 文远知行 | 川马智行 | TESLA | | --- | --- | --- | --- | --- | | WAYMO | 直度阿波罗 | | | 特斯拉 | | 日超1500 | 日超1000 | 日 超500 | 园超270 | 园超10 | | 截至2025年5月 | 截至2025年5月 | 截至2025年3月 | 截至2025年4月 | 2025年6月开始投入运营 | | ●超3200万公里 | ●超1.5亿公里 | 2 超4000万公里 | 2 超3900万公里 | 02 - | | 截至2024年10月 | 截至2025年3月 | 截至2025年3月 | 截至2025年4月 | 未公开 | | 国家(含测试) | 国家(含测试) | 国家(含测试) | 国家(含测试) | 国家(含测试) | | | 2 中国 | 2 中国 | 四中国 | LE FEE | | ● 日本(计划) | 一阿联酋 | 一阿联酋 | ■美国 | | | 城市(含测试) | ■美国 | + 瑞士 | 一卢森堡 ...