Latest news with #Guangzhou-headquartered
Yahoo
6 days ago
- Automotive
- Yahoo
Pony AI, Nearing Full-Year Robotaxi Goal, Eyes European Markets
(Bloomberg) -- Pony AI Inc. is confident it will meet its 2025 robotaxi vehicle output target and is actively exploring new markets in Europe, even as the industry's commercialization develops at an uneven pace across different regions. Over 200 of Pony AI's Gen-7 Robotaxi vehicles have been rolled out since mass production started two months ago, putting the firm on track to hit its 1,000 vehicle goal by year-end, the company said. Sunseeking Germans Face Swiss Backlash Over Alpine Holiday Congestion To Head Off Severe Storm Surges, Nova Scotia Invests in 'Living Shorelines' New York Warns of $34 Billion Budget Hole, Biggest Since 2009 Crisis Five Years After Black Lives Matter, Brussels' Colonial Statues Remain For Homeless Cyclists, Bikes Bring an Escape From the Streets That will help it break even on a per-vehicle basis, Chief Executive Officer James Peng said in an interview on Wednesday. The company was founded in 2016 and started operating robotaxis in Guangzhou in 2018. The Guangzhou-headquartered firm's optimism comes as it eyes new markets in Europe. Road testing is being carried out in Luxembourg via mobility service provider Emile Weber, Peng said. Pony AI is also trialing its technology in South Korea, where it has obtained nationwide permits for robotaxi operations. It has a tie-up with Dubai's Roads and Transport Authority, and with Uber Technologies Inc. to deploy self-driving vehicles in the Middle East. 'In a year or two, once the regulations are ready, the local users are on board, then I think those markets will take off dramatically,' Peng said of foreign regions. Earlier in August, Pony AI's rival — Baidu Inc.'s Apollo Go — inked an agreement with US ride-hailing platform Lyft Inc. to deploy robotaxis in Europe, starting with Germany and the UK in 2026, pending regulatory approval. Home Market Chinese regulators' attitude toward autonomous driving technology seems to be warming up, too, despite a public debate that erupted in 2024 over Apollo Go's robotaxi fleet in the central city of Wuhan. Taxi drivers protested the self-driving cars potentially taking their jobs, while residents complained about traffic disruptions. Last month, Shanghai granted licenses to companies including Pony AI and Apollo Go, allowing commercial operations in financial district Pudong. It became the latest Chinese urban center — following Beijing, Shenzhen and Guangzhou — to permit fare-charging robotaxi operations. 'This is a big step for making robotaxis a real business,' Peng said. Pony AI reported second quarter earnings on Tuesday, with robotaxi services revenue climbing 158% to $1.5 million from the same period in 2024, according to a company filing. Peng told an earnings call that the company had 'laid a solid foundation for large-scale commercial robotaxi operation.' Still, the road to scaling hundreds of commercial robotaxis remains challenging. Most countries — other than the US and China — remain unready for large-scale deployment, Chief Financial Officer Leo Wang told the call. The current limitations mean it could take time to develop a sustainable fare-charging business model, he said. 'I would also emphasize that scaling a full driverless robotaxis fleet demands a fundamentally higher level of safety and operation rigor,' he added. 'This leap from dozens to hundreds is a big jump in complexity.' Bessent on Tariffs, Deficits and Embracing Trump's Economic Plan Why It's Actually a Good Time to Buy a House, According to a Zillow Economist Dubai's Housing Boom Is Stoking Fears of Another Crash The Social Media Trend Machine Is Spitting Out Weirder and Weirder Results A $340 Million New York Office Makeover Is Converting Boardrooms to Bedrooms ©2025 Bloomberg L.P.
Business Mayor
21-05-2025
- Automotive
- Business Mayor
Xpeng shares rise, adding to 66% rally after the Chinese EV maker's losses narrowed
An Xpeng booth at the 2025 Spring International Auto Show in Qingdao, Shandong province, China, on March 7, 2025. Cfoto | Future Publishing | Getty Images Xpeng shares jumped as much as 6% in premarket trading in New York, after the Chinese electric vehicle upstart reported first quarter earnings that were ahead of expectations. The stock had pared gains to rise 5.23% at 12:44 p.m. London time. Here's how Xpeng did in the first quarter versus LSEG estimates: Revenue: 15.81 billion Chinese yuan ($2.18 billion), up 141.5% year-on-year and comparing with 15.1 billion yuan expected. 15.81 billion Chinese yuan ($2.18 billion), up 141.5% year-on-year and comparing with 15.1 billion yuan expected. Net loss: 660 million yuan, versus a 1.4 billion yuan loss expected and down from 1.37 billion yuan last year. Xpeng said it anticipates second-quarter revenue will come in between 17.5 billion yuan and 18.7 billion yuan, which was also surpassed consensus estimates. The Guangzhou-headquartered firm also said it expects to deliver between 102,000 and 108,000 of its electric cars in the second quarter of this year, representing a year-over-year increase of around 237.7% to 257.5%. Xpeng delivered 94,008 in the first three months of this year. The company contended with a difficult 2023, when it faced slowing growth and mounting losses because of rising competition in China's electric vehicle market and increasing economic uncertainty in its home market. But the company has been aggressive with new products, launching a mass market car last year and a refreshed version of its flagship X9 in April in 2025, helping to improve its fortunes over the last 18 months or so. That, along with strong deliveries this year, has helped fuel a 66% year-to-date rally in its share price, which has finally helped lift its stock above the $15 per share price that it went public with in 2020. Still, the stock is well off its record high of more than $50 per share hit in October 2021. Xpeng is now facing an even bigger raft of competition from new entrants like Xiaomi and from incumbents like BYD. Still, the company is maintaining momentum. Xpeng delivered 35,045 electric vehicles in April, sustaining its record of putting out more than 30,000 vehicles for the sixth consecutive month. READ SOURCE
CNBC
21-05-2025
- Automotive
- CNBC
Xpeng shares rise, adding to 66% rally after the Chinese EV maker's losses narrowed
Xpeng shares jumped as much as 6% in premarket trading in New York, after the Chinese electric vehicle upstart reported first quarter earnings that were ahead of expectations. The stock had pared gains to rise 5.23% at 12:44 p.m. London time. Here's how Xpeng did in the first quarter versus LSEG estimates: Xpeng said it anticipates second-quarter revenue will come in between 17.5 billion yuan and 18.7 billion yuan, which was also surpassed consensus estimates. The Guangzhou-headquartered firm also said it expects to deliver between 102,000 and 108,000 of its electric cars in the second quarter of this year, representing a year-over-year increase of around 237.7% to 257.5%. Xpeng delivered 94,008 in the first three months of this year. The company contended with a difficult 2023, when it faced slowing growth and mounting losses because of rising competition in China's electric vehicle market and increasing economic uncertainty in its home market. But the company has been aggressive with new products, launching a mass market car last year and a refreshed version of its flagship X9 in April in 2025, helping to improve its fortunes over the last 18 months or so. That, along with strong deliveries this year, has helped fuel a 66% year-to-date rally in its share price, which has finally helped lift its stock above the $15 per share price that it went public with in 2020. Still, the stock is well off its record high of more than $50 per share hit in October 2021. Xpeng is now facing an even bigger raft of competition from new entrants like Xiaomi and from incumbents like BYD. Still, the company is maintaining momentum. Xpeng delivered 35,045 electric vehicles in April, sustaining its record of putting out more than 30,000 vehicles for the sixth consecutive month.
