0238 GMT - Pony AI is likely to continue recording losses between 2024 and 2028 before turning a profit in 2029, Deutsche Bank analyst Bin Wang writes in a note. The company is a global leader in the large-scale commercialization of autonomous mobility, mainly level 4 robotaxis, Wang says. Level 4 refers to fully self-driving vehicles that don't need a driver in most instances. It is the only robotaxi company that has obtained all available regulatory permits in Chinese Tier-1 cities. DB expects robotaxis to benefit from exponential growth in China with annual sales volume growing from 2,000 units last year to 600,000 units in 2030.China's nationwide robotaxi fleet size is tipped to grow to 1 million units from around 3,000 units in 2024. Deutsche Bank initiates coverage of the stock with a buy rating and target price of $20.00. Shares last closed at $14.13. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
January 14, 2025 21:38 ET (02:38 GMT)
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