U.S. Stock Movement | Pony AI Inc (PONY.US) Rises Nearly 4% as China Grants First Batch of L3 Autonomous Driving Approvals

Stock News12-16 23:15

On Tuesday, shares of Pony AI Inc (PONY.US) climbed nearly 4% to $14.12. The surge follows China's announcement on December 15 approving its first batch of L3 conditional autonomous driving models for market entry. The approved models include the Changan SC7000AAARBEV pure electric sedan and the Arcfox BJ7001A61NBEV pure electric sedan. These vehicles will begin road tests in Beijing and Chongqing, marking a transition from testing to commercial application for L3 autonomous driving technology.

In the first three quarters of this year, Pony AI reported total revenue of $60.876 million, up 54.1% year-over-year. Its autonomous ride-hailing service (Robotaxi) generated $9.95 million in revenue, a 111.7% increase, while technology licensing and application services saw revenue soar 216.8% to $23.443 million. Autonomous trucking services remained stable, with revenue of $27.483 million, roughly flat compared to the same period last year.

With a vision to expand its Robotaxi fleet to over 100,000 vehicles by 2030, Pony AI's management anticipates achieving breakeven before the end of the decade.

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