小马智行_300 辆北汽第七代 Robotaxi 下线；2025 年底前实现 1000 辆 Robotaxi 规模；目标价 31.3 美元；买入

26 October 2025 | 8:25PM HKT Equity Research Pony AI Inc. (PONY): 300 BAIC Gen-7 Robotaxi produced; 1,000 Robotaxi vehicles by end-2025; TP at US$31.3; Buy Pony AI announced the production of 300 units of BAIC Gen-7 Robotaxi (Arcfox Alpha T5) by Oct 24th (Link), after starting mass production of new generation of Robotaxi from Jun 2025. The company also cooperates with GAC on Gen-7 Robotaxi (GAC AION V), and targets to reach fleet size of 1,000 units by end of 2025E. Meanwhile, Pony AI is conducting testing ...