Pony.ai Q3 2025: Robotaxi Fleet to Exceed 3,000 Vehicles by End-2026, City-Level Unit Economics Turn Positive
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Pony.ai Q3 revenue jumps 72% YoY, forecasts Robotaxi fleet over 3,000 by end-2026, and reports city-level per-vehicle profitability in Guangzhou as fully unmanned operations roll out nationwide.
On November 25, 2025, Pony.ai (NASDAQ: PONY / 2026.HK) reported Q3 revenue of 181 million RMB, up 72% YoY for the third consecutive high-growth quarter. Robotaxi revenue reached 47.7 million RMB (+89.5% YoY), with passenger fare income surging over 200%.
Aggressive scaling guidance:
- As of November 23, fleet stands at 961 vehicles (including 667 Gen-7 units); the 1,000-vehicle 2025 target will be met early.
- By end-2026, fleet planned to exceed 3,000 vehicles.
- Gen-7 Robotaxi has achieved city-level per-vehicle profitability (positive UE) in Guangzhou, averaging 23 daily orders.
- Fully unmanned commercial operations launched in Beijing, Guangzhou, and Shenzhen since November.
Cost reduction: Gen-7 autonomous kit BOM expected to drop another 20% in 2026. Q3 adjusted R&D of ~400 million RMB focused on Gen-7 development and production.
Strong cash position: Recent U.S.+HK dual-primary listing added ~6 billion RMB (up to 7 billion with over-allotment), plus 4.18 billion RMB prior reserves, fully funding mass production and commercialization.
Operational expansion: Partnerships with Xihu Group and Yangguang Chuxing for light-asset fleets; over 10,000 pickup/drop-off points in Shenzhen; Shanghai service extended to Pudong core area. Globally active in 8 countries, with Uber ($100M) and Bolt (tens of millions) investing during HK IPO.
Other segments: Robotruck revenue 72.5 million RMB; tech licensing 61 million RMB. Gen-4 Robotaxi (with Sany and Dongfeng Liuzhou) set for 2026 mass production (>1,000 units), kit cost down 70%, convoy solution cuts freight cost 29% and boosts profit 195%.
Source: Pony.ai Official
