Pony.ai Clears Hong Kong Listing Hearing After U.S. IPO
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Pony.ai has cleared its Hong Kong listing hearing, following last year’s Nasdaq debut under the ticker “PONY.”
Autonomous-driving company Pony.ai has passed the Hong Kong Stock Exchange (HKEX) listing hearing, moving a step closer to a secondary listing in the city. The company received approval from China’s securities regulator on Oct. 14 to issue up to 102 million ordinary shares for the Hong Kong offering. Pony.ai listed on Nasdaq in November 2024 under the ticker PONY; on Oct. 16, the stock closed at $20.415, up more than 57% from its $13.00 U.S. IPO price.
Founded in 2016, Pony.ai develops autonomous-driving technologies and solutions for robotaxi services, robotruck logistics, and technology licensing & applications. The company says its cumulative autonomous road-testing mileage has surpassed 55 million kilometers.
In the first half of 2025, the company recorded revenue of $35.43 million, up 43.3% year-on-year, and a net loss of $90.64 million, compared with a net loss of $51.76 million a year earlier. In the second quarter of 2025, revenue rose further to $21.45 million, marking 75.9% year-on-year and 53.5% quarter-on-quarter growth. For its closely watched Robotaxi business, revenue reached $3.26 million in the first half of 2025, up 178.8% year-on-year.
Pony.ai launched China’s first commercial robotaxi service in 2018 and is now the only operator offering fully driverless, paid robotaxi service across Beijing, Shanghai, Guangzhou and Shenzhen, with a service area over 2,000 km². The PonyPilot app has 500,000+ registered users. Passenger fare revenue grew about 800% in Q1 2025 and 300%+ in Q2 2025 versus prior periods, according to the company.
In April 2025, Pony.ai unveiled three robotaxi models co-developed with Toyota, BAIC and GAC, each equipped with the company’s seventh-generation autonomous-driving system. Multiple seventh-gen models have received L4 testing permits in Beijing, Shanghai, Guangzhou and Shenzhen, and have accumulated 3.5 million+ km of public-road testing. The robotaxi fleet has exceeded 680 vehicles and is expected to surpass 1,000 by year-end.
Pony.ai’s global footprint now spans eight countries across Asia, Europe, the Americas and the Middle East; the company has obtained robotaxi testing permissions in six of those markets.
