On March 26, Pony AI released its unaudited financial report for the fourth quarter and full year of 2025. The report forecasts that by the end of 2026, the scale of its Robotaxi fleet will exceed 3,000 vehicles, with deployments in over 20 cities both domestically and internationally.
Beijing time, March 26,$Pony AI (PONY.US)$released its unaudited financial report for the fourth quarter and full year of 2025. In 2025, the company's total revenue reached 629 million yuan, representing a year-on-year increase of 20% and marking continuous growth for four consecutive years. The report forecasts that by the end of 2026, the scale of its Robotaxi fleet will exceed 3,000 vehicles, with deployments in over 20 cities both domestically and internationally.
The Robotaxi business has entered a phase of explosive growth. In 2025, the annual revenue from the Robotaxi business reached 116 million yuan, reflecting a year-on-year increase of 129%, with passenger fare revenue growing nearly 400% year-on-year. In the fourth quarter, the Robotaxi business generated revenue of 46.6 million yuan, accounting for approximately 40% of the annual Robotaxi business revenue, with passenger fare revenue increasing more than 500% year-on-year.
This is primarily due to the rapid validation of the Robotaxi business model. The seventh-generation Robotaxi was put into commercial operation in November 2025, and that same month, Guangzhou achieved positive operational profitability per vehicle. In the first quarter of 2026, the performance of Robotaxi operations in Shenzhen also reached new highs: from January 1 to February 16, 2026, the number of paid orders exceeded the total number of paid orders for the entire year of 2025. Based on the average performance for the whole month of February, positive operational profitability per vehicle has also been achieved. On March 22, the daily net revenue per vehicle of the seventh-generation Robotaxi in the Shenzhen region set a new historical high of 394 yuan, with an average of 25 orders per vehicle on that day. To date,$Pony AI (PONY.US)$the platform has accumulated over one million users, nearly three times the number from the same period last year.
Pony AI founder and CEO Jun Peng stated in the earnings report: '2025 is a pivotal year for Pony AI’s development. The company has achieved comprehensive expansion in revenue scale, Robotaxi fleet size, operational network coverage, and user base. Looking ahead to 2026, we will accelerate revenue growth, expand the Robotaxi fleet to over 3,000 vehicles, and deploy Robotaxis in more than 20 cities worldwide.'
Currently,$Pony AI (PONY.US)$The company has launched a dual-engine strategy to drive deployment in over 20 cities domestically and internationally by the end of 2026, ensuring sustained growth momentum for the Robotaxi business. Pony AI has validated its Robotaxi business model in the first-tier cities of Guangzhou and Shenzhen, demonstrating core advantages in mass-produced vehicles, operational systems, and fully driverless technologies. Leveraging these core competencies, Pony AI is rapidly advancing the deployment of Robotaxis in both domestic and overseas markets, forming a 'single-core leadership, dual-engine driven growth' framework to help more cities achieve accelerated deployment and growth. In March 2026 alone, Pony AI successively expanded to Hangzhou and Changsha, two new first-tier cities in China, as well as Croatia in Europe.
According to the plan, nearly half of the cities in the deployment of over 20 cities by the end of 2026 will be from overseas, with the Greater Bay Area city cluster in China and other new first-tier cities also included in Pony AI’s expansion plans.
At the same time,$Pony AI (PONY.US)$Through a co-built fleet model, Pony AI is rapidly expanding the scale of its Robotaxi fleet while improving capital efficiency. In this co-built fleet model, Pony AI provides autonomous driving technology, while partners provide funding for the vehicles, and both parties share operational revenues to achieve a win-win outcome. Pony AI has established partnerships under the co-built fleet model with Toyota, Ruqi Mobility, and Verne. To date, the scale of Pony AI’s Robotaxi fleet has exceeded 1,400 vehicles, and the seventh-generation Toyota Platinum Intelligence 4X Robotaxi, co-produced with Toyota China and GAC Toyota, began mass production in February this year, with 1,000 units expected to join the fleet within the year.
The technological capabilities of autonomous driving and the user experience are key factors bolstering the company's confidence in the sustained growth of its Robotaxi business. Pony AI’s self-developed world model and virtual driver provide users with an excellent riding experience, enabling Robotaxis to smoothly handle peak-hour congestion, extreme weather, and complex road conditions. "These technological advantages mean that unmanned vehicles can access more complicated roads, narrow lanes, and plan optimal routes, providing more convenient pick-up and drop-off points, which enhances users’ willingness to pay," said Tiancheng Lou, Founder and CTO of Pony AI. He noted that this ensures the company implements balanced pricing, serving as a critical driver for achieving positive unit economics.
The Robotruck business maintained steady growth. The full-year revenue from the Robotruck business reached 284 million yuan in 2025, with the company continuously expanding commercial application scenarios for Robotrucks. In 2025,$Pony AI (PONY.US)$a fully driverless Robotruck was deployed at Jiangmen Port in Guangdong; the 1+N unmanned convoy testing was also successfully completed under various extreme weather conditions, validating the all-scenario and all-weather operational capabilities of Robotrucks. In November 2025, Pony AI officially announced the launch of its fourth-generation Robotruck, reducing the cost of the autonomous driving suite by 70%, with the goal of achieving mass production and deployment by the end of 2026.
Driven by the increasing demand for autonomous driving domain controllers, revenue from technology licensing and application services continued to grow. The full-year revenue from technology licensing and application services in 2025 reached 229 million yuan, representing a year-on-year increase of 19.7%. Notably, the annual delivery volume of autonomous driving domain controllers increased fivefold compared to 2024, with clients primarily coming from industries such as robotics and low-speed unmanned logistics for delivery.
It is worth mentioning that, thanks to successful strategic investments, the fourth quarter of 2025 marked$Pony AI (PONY.US)$the first time the company achieved a quarterly profit, with a net profit of 528 million yuan. Haojun Wang, Co-founder and CFO of Pony AI, stated: "Achieving a quarterly profit demonstrates the success of our strategic investments across the entire ecosystem. We are making early-stage investments to accelerate commercialization. With a strengthened balance sheet and robust investment, we are well-prepared to embrace the next phase of high-speed growth."
As of December 31, 2025,$Pony AI (PONY.US)$The company holds cash equivalents, short-term and long-term financial products, and total investments amounting to 10.593 billion yuan, providing solid financial support for the continuous expansion of the Robotaxi fleet and global market outreach.
Editor/Melody