Pony AI's Positive Unit Economics in China Offer Model for Overseas Partners
Dow Jones
Aug 28
0227 GMT - Pony AI's positive unit economics in China provide a reference model for overseas partners, say Daiwa analysts in a note. In China, each Pony AI robotaxi completed 20-25 paid rides every day and generated daily revenue of 320-340 yuan in 2Q, against the daily operating cost of 250 yuan. That implies a vehicle-level gross margin of around 30%, Daiwa says. That's driven by higher fleet density and continued operating cost reductions, the investment bank says. Pony's global 3,500-unit robotaxi fleet target remains intact, but expansion next year will depend on approvals. Daiwa maintains a buy rating on the stock and raises its ADR target price to $25 from $24. Shares last closed at $7.52.
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