A New Challenger is Aiming at Tesla and Waymo’s Turf, and it is Coming Out of China at Full Throttle

Pony.ai has unveiled a plan that signals clear intent. The company will triple the size of its robotaxi fleet by the end of 2026, pushing beyond 3,000 autonomous vehicles and positioning itself as a serious global competitor in self-driving transport.

It operates 961 robotaxis today and expects to hit 1,000 by year-end, but the ambition stretches far beyond China’s borders.

The company detailed the target in its third-quarter earnings, capping off a year defined by commercial expansion. Pony.ai now charges passengers for fully autonomous rides in Beijing, Shanghai, Guangzhou and Shenzhen.

It is also making an international push into eight countries, including Singapore and Qatar, through alliances with local mobility firms and with ride-hailing giants Bolt and Uber. The strategy is simple: scale everywhere, fast.

Revenue is climbing quickly as a result. Third-quarter revenue hit $25.4 million, up 72 percent year on year. The business now has three meaningful streams. Robotaxi operations generated $6.7 million. Its autonomous trucking service, branded robotrucks, added $10.2 million. Licensing and application fees provided another $8.6 million.

Losses are rising too. Pony.ai recorded a net loss of $61.6 million for the quarter, up 46 percent from the same period in 2024.

Growing operations and heavy investment continue to push expenses well above income. The company ended the quarter with $587.7 million in cash, cash equivalents and short-term investments, down from $747.7 million three months prior.

Roughly half of that drop came from a one-time investment into its joint venture with Toyota to support production of its Gen 7 autonomous vehicle.

Investors appear comfortable with the burn. Pony.ai’s shares climbed more than 6 percent on the Nasdaq after the results, reflecting confidence in its ability to capture market share as robotaxi networks mature.

Pony.ai’s message is straightforward. Scale now, monetise later. Its fleet growth, international expansion and deep partnerships show a company that intends not just to keep pace with Tesla and Waymo, but to challenge them outright on the global stage.