Pony.ai

The company was founded in December 2016 by James Peng and Tiancheng Lou, formerly software developers for Baidu in Silicon Valley.{{cite magazine|title=8 Questions With James Peng of Pony.ai, One of China's Most Valuable Autonomous Vehicle Startups|url=https://time.com/5602852/pony-ai-james-peng-autonomous-vehicle-startup/|magazine=Time|accessdate=19 January 2020}}{{cite web|title=Toyota teams with Pony.ai for driverless road tests in China |url=https://asia.nikkei.com/Business/Automobiles/Toyota-teams-with-Pony.ai-for-driverless-road-tests-in-China|website=Nikkei Asian Review |accessdate=19 January 2020}}

The company has partnered with equipment manufacturers such as Toyota. Pony.ai obtained permits to run fully driverless ride-hailing services in Beijing and Guangzhou, China.

In April 2019, Pony.ai launched a pilot system covering {{convert|50|sqkm|sqmi|abbr=on}} in Guangzhou for employees and invited affiliates, serving pre-defined pick-up points.{{cite news|date=19 April 2019|title=Pony.ai tests robo-taxi program on its employees, promises self-driving trucks next|publisher=Venture Beat|url=https://venturebeat.com/2019/04/19/pony-ai-launches-robotaxi-employee-program-ponypilot-says-its-developing-self-driving-trucks/ |access-date=24 July 2021}}

In November 2019, the company started a three-month trial in Irvine, California, with 10 cars and defined stops for pick-up and drop-off.{{cite news|date=25 October 2019|title=Pony.ai to launch BotRide robo-taxi service in Irvine|publisher=Venture Beat|url=https://venturebeat.com/2019/10/25/pony-ai-to-launch-botride-robo-taxi-service-in-irvine/ |access-date=24 July 2021}}

In May 2021, the California Department of Motor Vehicles (DMV) permitted Pony.ai to test six autonomous vehicles without human safety drivers on specified streets in Fremont, Milpitas and Irvine. The permit restricts operation to roads with speed limits not exceeding {{convert|45|mph}} in clear weather and light precipitation. Testing was planned to start in Fremont and Milpitas on weekdays between 10 a.m. and 3 p.m.{{Cite web|title=Chinese startup Pony.ai can now test driverless vehicles in three California cities|url=https://techcrunch.com/2021/05/21/chinese-startup-pony-ai-can-now-test-driverless-vehicles-in-three-california-cities/|access-date=2021-05-24|website=TechCrunch|date=21 May 2021 |language=en-US}} In June 2021, testing began in Fremont and Milpitas.{{cite news|date=17 June 2021|title=Pony.ai Claims to Be the First Company to Test Driverless Vehicles in Both the U.S. and China|publisher=Robotics 24/7|url=https://www.robotics247.com/article/pony.ai_claims_first_company_test_driverless_vehicles_both_u.s_china|access-date=24 July 2021}}

On October 28, a Pony.ai vehicle operating in autonomous mode hit a road center divider and a traffic sign in Fremont after turning right. In December 2021, California DMV suspended a driverless testing permit for Pony.ai following this accident. It is the first time for DMV to issue such a suspension.{{cite news|date=14 December 2021 |title=California halts Pony.ai's driverless testing permit after accident |publisher=Reuters |url=https://www.reuters.com/markets/commodities/california-halts-ponyais-driverless-testing-permit-after-accident-2021-12-14/ |access-date=16 March 2022}} Subsequently, the National Highway Traffic Safety Administration (NHTSA) launched a probe.{{Cite news |last=Shepardson |first=David |date=2022-03-29 |title=U.S. agency to review if Pony.ai complied with crash reporting order |language=en |work=Reuters |url=https://www.reuters.com/business/autos-transportation/us-agency-review-if-ponyai-complied-with-crash-reporting-order-2022-03-29/ |access-date=30 March 2022 }} More than four months after the accident, the NHTSA announced the "first recall of an automated driving system" as the company complied with the government agency’s request.{{Cite web |last=Shepardson |first=David |date=8 March 2022 |title=Startup Pony.ai agrees to automated driving software recall |url=https://www.reuters.com/business/autos-transportation/startup-ponyai-agrees-automated-driving-system-software-recall-2022-03-08/ |website=Reuters |access-date=25 April 2022}} In May 2022, California DMV revoked Pony.ai's permit for failing to monitor the driving records of the safety drivers on its testing permit.{{cite news|date=25 May 2022 |author=Rebecca Bellan |title=Pony.ai loses permit to test autonomous vehicles with driver in California |url=https://techcrunch.com/2022/05/24/pony-ai-loses-permit-to-test-autonomous-vehicles-with-driver-in-california/ |work=TechCrunch |access-date=30 May 2022}} By June 2023, Pony.ai was back to testing its fleet with safety drivers present in California.{{cite web |last=Council |first=Stephen |title=Bay Area driver arrested for allegedly rear-ending driverless car |website=SF Gate |date=2023-06-16 |url=https://www.sfgate.com/tech/article/fremont-driver-autonomous-vehicle-arrest-18157019.php |access-date=2024-02-14}}

According to the California DMV, in 2021 Pony.ai had the third-highest number of miles driven, behind Waymo and Cruise.{{Cite web |last=Bellan |first=Rebecca |date=2022-02-10 |title=Despite a drop in how many companies are testing autonomous driving on California roads, miles driven are way up |url=https://techcrunch.com/2022/02/10/fewer-autonomous-vehicle-companies-in-california-drive-millions-more-miles-in-testing/ |access-date=2022-12-27 |website=TechCrunch |language=en-US}}

In April 2022, Pony.ai became the first autonomous driving company to get a taxi license in China.{{Cite web |title=Baidu, Pony.AI win first driverless robotaxi permits in China |url=https://techcrunch.com/2022/04/27/baidu-pony-ai-win-first-driverless-robotaxi-permits-in-china/ |access-date=28 April 2022 |website=TechCrunch |date=28 April 2022 |language=en-US}}

In July 2022, Pony.ai partnered with equipment manufacturer Sany Heavy Industry to mass produce autonomous driving trucks in China.{{cite web |last=Cheng |first=Evelyn |title=Self-driving start-up Pony.ai plans to mass produce robotrucks in China |website=CNBC |date=2022-07-28 |url=https://www.cnbc.com/2022/07/28/self-driving-tech-company-ponyai-plans-to-deliver-robotrucks-in-china.html |access-date=2024-02-14}}

In April 2023, Pony.ai was licensed to operate robotaxi services in Guangzhou.{{Cite web |last=Standard |first=The |title=Pony.ai gets permit for driverless robotaxi services in Guangzhou |url=https://www.thestandard.com.hk/breaking-news/section/3/203041/Pony.ai-gets-permit-for-driverless-robotaxi-services-in-Guangzhou |access-date=2023-06-29 |website=The Standard |language=en}}

In August 2023, Toyota and Pony.ai developed plans to mass produce robotaxis in China. The two companies and GAC-Toyota, a venture between the Japanese automaker and Chinese state-owned Guangzhou Automobile Group, will invest more than 1 billion yuan ($140 million) combined.{{Cite web |title=Toyota, Pony.ai plan to mass produce robotaxis in China |url=https://www.reuters.com/technology/toyota-chinas-ponyai-set-up-jv-with-139-mln-investment-2023-08-04/ |date=2023-08-04 |access-date=2024-02-13 |website=Reuters |language=en}}

In April 2025, Pony.ai partnered with Tencent Cloud and Smart Industries Group, the cloud business division of Tencent Holding, to advance autonomous driving technology.{{Cite web |last=Rani |first=Archana |date=2025-04-28 |title=Pony.ai teams up with Tencent to advance autonomous driving |url=https://www.just-auto.com/news/pony-ai-tencent-cloud/?utm_source=chatgpt.com |access-date=2025-05-20 |website=Just Auto |language=en-US}}

As of June 2025, Pony AI was testing autonomous big trucks (with a safety driver) on a highway between Beijing and the Port of Tianjin.{{Cite web |date=2025-06-06 |title=China's driverless lorries hope to expand |url=https://www.bbc.com/news/articles/c5ykel5dr62o |access-date=2025-06-07 |website=www.bbc.com |language=en-GB}} Around that time, Reuters reported estimates that "Pony AI lets one person monitor as many as a dozen" of its robotaxis at the same time, with analysts polled by LSEG estimating that the company could become profitable by 2029 (after still incurring over $200 million in losses in 2024).

One of Pony.ai’s robotaxis [https://www.cnbc.com/2025/05/14/chinese-robotaxi-operator-ponyai-reports-first-fire-no-injuries.html caught fire] for the first time in May 2025. The company stated that no people were harmed in the incident.

In January 2018, Pony.ai completed a $112 million Series A round co-led by Morningside Venture Capital and Legend Capital with seed round lead-investor Sequoia China and investor IDG Capital also participating in the round, alongside Hongtai Capital, Legend Star, Puhua Capital, Polaris Capital, DCM Ventures, Comcast Ventures and Silicon Valley Future Capital.{{cite web|title=Autonomous Driving Startup Pony.ai Raises $112M|url=https://www.businesswire.com/news/home/20180115005382/en/Autonomous-Driving-Startup-Pony.ai-Raises-112M|website=Business Wire|date=15 January 2018 |accessdate=19 January 2020}}

In February 2020, Toyota invested $400 million in the company as part of a funding round of $462 million.{{cite news|date=26 February 2020|title=Autonomous driving startup Pony.ai raises $462 million in Toyota-led funding|publisher=Reuters|url=https://www.reuters.com/article/us-toyota-pony-ai-autonomous-idUSKCN20K0DR|access-date=24 July 2021}} Toyota previously announced that it was working with Pony.ai to test self-driving cars on public roads in Beijing and Shanghai.{{Cite web|last=Hawkins|first=Andrew J.|date=2020-02-25|title=Toyota steers $400 million to self-driving startup Pony.ai|url=https://www.theverge.com/2020/2/25/21152817/toyota-pony-ai-self-driving-car-investment-valuation-china-silicon-valley|access-date=2020-02-27|website=The Verge|language=en}}

In 2020, the company had a valuation of $5.3 billion.{{Cite web |date=6 November 2020 |title=Chinese autonomous vehicle startup Pony.ai hits $5.3 billion valuation |url=https://techcrunch.com/2020/11/06/chinese-autonomous-vehicle-startup-pony-ai-hits-5-3-billion-valuation/ |access-date=2022-01-09 |website=TechCrunch |language=en-US}}

The company intended to go public on the New York Stock Exchange via an SPAC route. However, in 2021, the company suspended its plans due to Chinese regulators.{{Cite news|last1=Hu|first1=Krystal|last2=Wu|first2=Kane|last3=Zhu|first3=Julie|last4=Sun|first4=Yilei|date=2021-08-11|title=EXCLUSIVE China's tech crackdown thwarts Pony.ai's U.S. listing plans -sources|language=en|work=Reuters|url=https://www.reuters.com/technology/exclusive-chinas-tech-crackdown-thwarts-ponyais-us-listing-plans-sources-2021-08-11/|access-date=2022-01-09}}

In October 2023, Pony.ai received $100 million from Neom, Saudi Arabia, to develop, manufacture and deploy autonomous vehicles and smart infrastructure in Neom and the MENA region. The agreement includes the establishment of a regional R&D and manufacturing headquarters.{{cite web|last=Bellan|first=Rebecca|title=Pony.ai gets $100M, establishes JV with Saudi Arabia's Neom|website=TechCrunch|date=2023-10-25|url=https://techcrunch.com/2023/10/25/pony-ai-gets-100m-autonomous-vehicle-jv-saudi-arabias-neom/|access-date=2024-01-19}}

In November 2024, Pony.ai held its initial public offering (IPO) and became a listed company on the Nasdaq raising $260 million. This is one of the largest IPOs in the United States stock market involving autonomous driving sector.{{Cite web |last=杨洋 |date=28 November 2024 |title=Chinese self-driving startup Pony.ai debuts on Nasdaq |url=https://global.chinadaily.com.cn/a/202411/28/WS674807fca310f1265a1d014b.html |access-date=2024-12-06 |website=global.chinadaily.com.cn}} Shares opened around 15% above their offer price on their market debut.{{Cite web |date=November 28, 2024 |title=Pony AI fetches $5.25 bln valuation as shares jump 15% in Nasdaq debut |url=https://www.reuters.com/business/autos-transportation/chinas-robotaxi-startup-pony-ai-raises-260-mln-us-ipo-2024-11-27/ |website=Reuters}}

In March 2025, it was reported that Pony.ai was exploring a secondary listing on the Hong Kong Stock Exchange although the company stated it has no immediate plans.{{Cite web |last=Zhou |first=Cizzy |date=March 14, 2025 |title=Pony.ai and WeRide eye secondary listings in Hong Kong |url=https://asia.nikkei.com/Business/Technology/Pony.ai-and-WeRide-eye-secondary-listings-in-Hong-Kong |access-date=2025-03-20 |website=Nikkei Asia |language=en}}

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Category:Self-driving car companies

Category:Technology companies established in 2016

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