CX Briefing: Robotaxi Firm’s Revenue Surges

A rundown of the news making headlines in and around China:

Pony.ai revenue soars: Chinese robotaxi company Pony.ai booked a 76% year-on-year jump in revenue in the second quarter to $21.5 million. The growth tracks the firm’s expansion of its robotaxi fleet, which includes more than 500 vehicles — up from 270 in early April. It aims to further increase the fleet to over 1,000 by the end of 2025. The company reported that passenger fare revenue grew by more than 300% in the second quarter, while overall robotaxi revenue reached $1.5 million, up 158%. But that still only accounts for a sliver of total revenue, with the vast majority from Pony.ai’s robotruck business, and technology licensing and applications. The latter surged more than ninefold to $10.4 million in the three months. Chief Financial Officier Leo Wang attributed the firm’s widening losses to higher investments in robotaxis and research and development. Overseas, Pony.ai has initiated robotaxi testing in countries like Luxembourg and South Korea and plans to start road tests in Dubai in partnership with Uber Technologies Inc. by end of the year.