Core Viewpoint - The company reported significant revenue growth but also a substantial increase in net losses, primarily due to investments in the seventh-generation Robotaxi project and R&D expenses [2][6][7]. Financial Performance - In Q2 2025, the company generated revenue of $21.5 million, a year-on-year increase of 75.9%, while net losses reached $53.3 million, widening by 72.5% [2]. - For the first half of 2025, total revenue was $35.4 million, up 43.34% year-on-year, with net losses amounting to $90.6 million, an increase of 75.07% [2][7]. - The gross margin improved to 16.1% in Q2 2025, compared to -0.3% in the same period last year, attributed to a focus on high-profit revenue sources [7]. Business Segments - The Robotaxi service generated $1.5 million in revenue, a 157.8% increase, but accounted for less than 10% of total revenue [3]. - Robotruck service revenue was $9.5 million, down 9.9%, while technology licensing and application services revenue surged to $10.4 million, a 901.8% increase [3]. - The company is focusing on expanding its Robotaxi fleet, with over 500 vehicles currently operational and a target of exceeding 1,000 by the end of 2025 [2][3]. Operational Developments - The company has expanded its operational range to major cities including Beijing, Shanghai, Guangzhou, and Shenzhen, with over 2 million kilometers driven on public roads [4]. - A strategic partnership was formed with Shenzhen Xihua Group to deploy over 1,000 Robotaxis in Shenzhen over the coming years [4]. - The company is optimizing operational efficiency by improving the remote assistance ratio to 1:30, meaning one remote operator will monitor 30 vehicles [4][5]. Investment and Costs - Operating expenses in Q2 2025 were $64.7 million, a 75.1% increase, driven by investments in production and increased employee costs for enhancing technology capabilities [6]. - R&D expenses reached $49 million, up 69%, primarily due to investments in the seventh-generation Robotaxi [6]. Market Outlook - The global Robotaxi market is projected to reach $47 billion by 2035, with expectations of profitability starting in 2026 in major cities [8]. - The company is expected to continue incurring losses as it invests heavily to maintain a competitive edge in the emerging autonomous driving market [8].