"Chinese self-driving company Pony AI plans to scale up the size of its robotaxi fleet this year, with the goal of turning profitable by 2029.
The company's chief executive, James Peng, said in an interview that Pony AI hopes to launch more than 1,000 robotaxis this year and aims to have more than 10,000 on the road within the next three years. It currently has more than 300 robotaxis in Beijing, Shanghai, Shenzhen and Guangzhou, Peng added.
Pony AI rolled out fully driverless robotaxis in several Chinese cities last year, and a focus for the company now is achieving profitability. "The key question today would be how to scale up fast," he said.
The Guangzhou-based company is partnering with automakers to ramp up robotaxi production and expand its fleet. "We started our partnership with Beijing Automotive Group, Guangzhou Automobile Group and Toyota Motor last year, and will have three models to be launched for the mass market this year," the Stanford-educated CEO said.
These collaborations will reduce costs. "Including the sensors, batteries and other auto parts, the cost of these robotaxis will be just around 270,000 yuan," equivalent to some $40,000, Peng said.
The three models will be launched in the middle of this year, Peng said, and the scale of production and low costs will help support margins for the robotaxis business.
Pony AI expects that the robotaxis will break even on a per-unit basis sometime between 2025 and 2026.
Some Chinese robotaxi companies have been pushing to expand overseas, but Peng considers most international markets as relatively small and noted they could present greater regulatory hurdles.
Pony AI was listed on the Nasdaq in November 2024 and raised about $452 million through the initial public offering and a private placement. Although the company is still losing money, Peng said its cash flow was "pretty healthy."" [1]
1. Pony AI Scales Up Its Robotaxi Fleet. Huang, Jiahui. Wall Street Journal, Eastern edition; New York, N.Y.. 13 Mar 2025: B4.
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