Latest news with #JamesPeng
Yahoo
a day ago
- Business
- Yahoo
Why Cathie Wood's ARK Invest And Others Are Betting On Pony.AI
Pony AI Inc. (NASDAQ:PONY), a Chinese autonomous driving startup, is drawing strong support from global investors as it scales its robotaxi fleet and advances toward profitability. The company's growth trajectory comes at a time when many U.S. funds remain cautious on Chinese tech assets. Recent filings show ARK Invest, led by Cathie Wood, invested nearly $12.9 million in this month. It is the firm's first direct stake in a Chinese company focused exclusively on Level 4 autonomous driving. ARK wasn't alone in backing Filings show that the robotaxi firm attracted at least 14 major global investors in the second quarter, including Baillie Gifford and Nikko Asset Management, which were noted for their big wins on Tesla (NASDAQ:TSLA), Tencent, Alibaba (NYSE:BABA), and Meituan (OTC:MPNGY).In the second quarter, recorded a 158% year-over-year increase in robotaxi revenue, fueled by production of its seventh-generation fleet. CEO James Peng said the new models are 70% cheaper to build than earlier versions and deliver significantly lower operating costs. The company aims to operate 1,000 vehicles by the end of the year, a level it believes will secure unit-level profitability. has become the only operator with fully driverless commercial permits in all four of China's largest cities, Beijing, Shanghai, Guangzhou, and Shenzhen. Regulators recently allowed it to charge fares in parts of Shanghai's Pudong district. In a major boost to adoption, struck a partnership to integrate ride-hailing into Tencent's WeChat platform, which has over one billion active users. Analysts have noted progress. Goldman Sachs issued a buy rating with a $24.50 forecast, projecting more than 50% upside from mid-August levels. UBS analysts estimate China's robotaxi market could reach $183 billion by the late 2030s, with international markets outside the U.S. adding nearly $400 billion. The investment reflects ARK's conviction that autonomous ride-hailing could be transformative. The firm projects the sector could become a $10 trillion global market by 2030. Wood's strategy spans multiple disruptive themes, as highlighted by her fund's recent decision to add more Amazon shares alongside its bet. Price Action: At last check Monday, PONY shares were trading lower by 1.39% at $15.64. Read Next:Photo by Tada Images via Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? This article Why Cathie Wood's ARK Invest And Others Are Betting On originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
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.
South China Morning Post
6 days ago
- Automotive
- South China Morning Post
Pony AI, nearing full-year robotaxi goal, eyes European markets
Pony AI is confident it will meet its 2025 robotaxi vehicle output target and is actively exploring new markets in Europe, even as the industry's commercialisation develops at an uneven pace across different regions. Advertisement 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. 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 trialling 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 to deploy self-driving vehicles in the Middle East. Pony AI reported that its second quarter robotaxi revenue grew 158 per cent to US$1.5 million from the same period in 2024. Photo: Shutterstock Images '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.
Business Times
7 days ago
- Automotive
- Business Times
Pony AI nears full-year robotaxi target despite scaling hurdles
[HONG KONG] Pony AI said that it was confident it would meet its 2025 robotaxi vehicle output target, while acknowledging it will still take time to commercialise the industry. Over 200 of the company'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, chief executive officer James Peng said. 'We have laid a solid foundation for large-scale commercial robotaxi operation,' Peng told an earnings call late Tuesday (Aug 12). Robotaxi services revenue climbed 158 per cent to US$1.5 million in the second quarter from the same period in 2024, according to a company filing. 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 emphasise that scaling a full driverless robotaxis fleet demands a fundamentally higher level of safety and operation rigour,' he added. 'This leap from dozens to hundreds is a big jump in complexity.' Second-quarter net loss amounted to US$53.3 million, compared to US$30.9 million in the same period last year. Research and development expenses rose 69 per cent to US$49 million from the same quarter in 2024, amid higher investments for Gen-7 vehicles. BLOOMBERG
Bloomberg
7 days ago
- Automotive
- Bloomberg
Pony AI Nears Full-Year Robotaxi Target Despite Scaling Hurdles
Pony AI Inc. said it was confident it would meet its 2025 robotaxi vehicle output target, while acknowledging it will still take time to commercialize the industry. Over 200 of the company'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, Chief Executive Officer James Peng said.
