BUSINESS

Pony AI Achieves Per-Vehicle Profit Milestone in Two Cities

Published: Mar. 27, 2026 9:19 p.m. GMT+8

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A Pony AI robotaxi in Shenzhen, Guangdong province. Photo: VCG

Autonomous-driving firm Pony AI Inc. has achieved positive per-vehicle profit for its robotaxi operations in two major Chinese cities, marking a breakthrough for a sector long constrained by heavy infrastructure costs and regulatory barriers.

The milestone highlights the growing commercial viability of self-driving taxi services as companies rapidly scale up domestic fleets and expand into overseas markets, even as they continue to absorb broader corporate losses.

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Pony AI achieved per-vehicle profitability in its robotaxi business in two Chinese cities and expanded its fleet to 1,446 vehicles by March 2026.
Robotaxi revenue rose 159.5% year-on-year to ¥46.6 million in Q4 2025, but the company posted an overall non-GAAP net loss of ¥1.2 billion for 2025.
Pony AI is expanding internationally, launching services in Doha and planning robotaxis in Dubai and Zagreb, while holding $1.5 billion in cash.

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Who’s Who

Pony AI Inc.: Pony AI Inc. is an autonomous-driving firm that has achieved per-vehicle profitability for its robotaxi operations in two major Chinese cities. Their robotaxi revenue increased by 159.5% year-on-year to 46.6 million yuan in Q4 2025. The company is expanding its robotaxi fleet and accelerating global expansion, launching services and testing in various international cities. While robotaxis show strong growth, automated trucking and B2B technology licensing are currently their largest revenue sources.

Uber: Uber is partnering with Pony AI and Verne to introduce commercial robotaxi services in Zagreb, Croatia. This collaboration is part of Pony AI's acceleration of global expansion, aiming to capture higher pricing and stronger returns in international markets.

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What Happened When

2024：: Robotaxi business accounted for 9.7% of total revenue. Used for year-on-year comparisons and as the point of reference for growth figures.

Late 2024 to early 2025：: Favorable local policies introduced in Shenzhen allowed autonomous-driving firms to expand operating zones and fleet sizes.

2025：: Pony AI’s robotaxi business accounted for 18.5% of total revenue (up from 9.7% in 2024). The robotruck division generated 284 million yuan, and technology licensing/applications brought in 229 million yuan. Full-year robotaxi revenue reached 116 million yuan. Non-GAAP net loss was 1.2 billion yuan, which widened over 30% from 2024. At the end of 2025, Pony AI held $1.5 billion in cash.

Fourth quarter of 2025：: Pony AI’s robotaxi revenue rose 159.5% year-on-year to 46.6 million yuan.

First two months of 2026：: Number of paid Pony AI robotaxi orders in Shenzhen exceeded the total for all of 2025.

March 2026：: Average daily net revenue and orders per vehicle for Pony AI robotaxi in Shenzhen reached record highs.

By March 25, 2026：: Pony AI expanded its robotaxi fleet to 1,446 vehicles (an increase of more than 1,000 units from 2025).

Thursday, March 27, 2026：: Pony AI published its earnings report for Q4 2025 and full-year 2025. On the same day, Pony AI announced a partnership with Verne and Uber to introduce commercial services in Zagreb, Croatia. Pony AI shares fell 14.7% to $9.70 per ADS in New York amid a tech selloff.

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