Pony.ai logs record-high annual revenue of 548 million RMB in 2024

Beijing (Gasgoo)- On March 25, autonomous driving company Pony.ai released its financial results for the fourth quarter (Q4) and full year of 2024, reporting record-high annual revenue of 548 million RMB (75.03 million USD), which rose 4.3% year on year. In Q4, the company's revenue reached 259 million RMB (35.5 million USD).

Pony.ai has maintained continuous revenue growth for three consecutive years, with 472 million RMB in 2022 and 510 million RMB in 2023.

As the world's first publicly listed Robotaxi company, Pony.ai continues to expand its core autonomous mobility service business. In 2024, its Robotaxi service revenue reached 53.28 million RMB (7.3 million USD), driven by increased passenger fare revenue from paid Robotaxi operations in major Chinese cities. With the deployment of its seventh-generation Robotaxi vehicles set for this year, the company anticipates continued and potentially accelerated growth.  

Pony.ai co-founder and CEO, Dr. James Peng, emphasized that with technological maturity and sufficient funding, the company is accelerating toward a pivotal commercialization breakthrough. He reaffirmed the company's commitment to a strategy prioritizing Robotaxi operations, the Chinese market, and Tier-1 cities. In 2024, Pony.ai has expanded its Robotaxi services in Beijing, Shanghai, Guangzhou, and Shenzhen to strengthen operational capabilities and pursue global market opportunities.  

The company has also been advancing the development of its seventh-generation Robotaxi models in 2024. Pony.ai's adjusted annual R&D expenditures reached 1.006 billion RMB (137.8 million USD), up 14% year-on-year. The cost of its latest vehicle-grade autonomous driving system has decreased by 70% compared to the previous generation. Through joint development with Toyota, BAIC BJEV, and GAC AION, three new seventh-generation Robotaxi models are expected to be rolled out this year.