Chinese autonomous vehicle company Pony AI has announced it will be rapidly accelerating the size of its robotaxi fleet this year with profits estimated by 2029, according to WSJ.
The Silicon Valley-founded company holds a current robotaxi fleet of just 250 vehicles and 190 robotrucks. However, CEO Dr. James Peng told WSJ that he hopes to launch more than 1,000 robotaxis by the end of the year and have more than 10,000 of them on the road by 2028.
This would require a significant ramping-up in the company’s robotaxi production. Pony AI’s self-driving vehicles currently operate in both the Unites States and China, including four of China’s tier-one cities: Beijing, Guangzhou, Shanghai and Shenzhen.
The company went public in November last year, listing on Nasdaq with shares priced at $13 each.
Since launching in 2016 Pony AI has received a total funding of $1.19 billion in investment from the likes of Toyota, BAIC, NEOM, IDG Capital and more. Its largest funding round totalled $462 million with investments from Toyota and FAW Group.
The company’s 2024 end-of-year financial report is set to be announced on March 25, containing a financial evaluation of 2024, plus production and revenue predictions for this year.
Peng stated last year his ambitions to expand robotaxi operations in Europe at MOVE 2024. He said:
“Europe is a great market but the challenge here is too many countries and too many different types of regulations, our first step into Europe is in Luxembourg.”
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