Chinese company Pony.ai plans to triple its global robotaxi fleet by the end of 2026

Chinese self-driving vehicle technology company Pony.ai said on Tuesday that it plans to triple the size of its robotaxi fleet by the end of next year as its growth pace and aspirations accelerate.

The company, which has about 961 robotaxis in its fleet today, announced that goal during its third-quarter earnings. Pony.ai is targeting a fleet of 1,000 robotaxis by the end of this year. Its goal is to “exceed” 3,000 vehicles by the end of 2026. The company said In the third quarter earnings report.

Pony.ai, which is publicly traded on NASDAQ and Hong Kong Stock Exchangespent the year ramping up its business operations. Today, the company offers commercial robo-taxi services — meaning it charges fees for these rides — in Beijing, Shanghai, Guangzhou and Shenzhen.

The company also aspires to expand beyond China’s borders. Pony.ai is spread across eight countries, including Qatar and Singapore, through partnerships with local companies as well as ride-hailing companies Bolt and Uber.

The intensification of robotics services has had the dual effect of increasing revenues as well as costs. The company reported revenue of $25.4 million in the third quarter, a 72% increase from the $14.8 million it generated in the same period last year.

Shares of Pony.ai on the Nasdaq rose more than 6% after its earnings report.

Pony.ai said the rise in revenue was driven by its robotaxi services and the licensing of its technology to other companies. The company, based in Guangzhou, China, generated revenue of $6.7 million from its robotaxi services, $10.2 million from its self-driving trucks called robotrucks, and $8.6 million from licensing fees and orders.

The company’s expenses still exceed revenues. Pony.ai reported a net loss of $61.6 million in the third quarter, an increase of 46% since the same period in 2024.

Pony.ai had $587.7 million in cash, cash equivalents, and short-term investments as of September 30, an amount that was down from $747.7 million in the second quarter of the year. Pony.ai said half of that decline came from a one-time cash flow that included investment in its joint venture with Toyota to support production and deployment of its Gen-7 vehicle.