Pony AI Stock Gallops Higher On Plan To Bring Robotaxi Service To Hong Kong: Retail’s Cautious
By Stocktwits Inc | First Published Jan 7, 2025, 12:35 AM ISTThe initial deployment will serve employees commuting at Hong Kong International Airport.
U.S.-listed shares of Chinese autonomous driving tech firm Pony AI (PONY) gained over 2% on Monday, reaching a near one-week high.
The stock rose following a WeChat post where the company revealed plans to expand its robotaxi services to Hong Kong, as reported by Reuters.
Latest Videos
The initial deployment will serve employees commuting at Hong Kong International Airport, though the company has not specified a timeline for the rollout.
Despite the news, retail sentiment on Stocktwits was measured, shifting to a ‘neutral’ rating compared to last week’s ‘bullish’ stance, reflecting mixed investor reactions to the news.
Pony AI has been steadily growing its autonomous driving footprint. According to MarketWatch, it recently began charging for self-driving services at Beijing Daxing International Airport.
It has also conducted test runs on the expressway to Guangzhou Baiyun International Airport.
The Hong Kong robotaxi market is gaining traction, with Chinese tech giant Baidu reportedly securing a license in November to trial its Apollo robotaxi services there.
Pony AI’s strategic moves and leadership in operating fully driverless robotaxis across four tier-1 Chinese cities under regulatory permits bolster its competitive position.
Wall Street analysts recently issued bullish calls for Pony AI, citing its proprietary Virtual Driver technology and strong government support for autonomous mobility in China as key growth drivers.
The company’s partnerships with Toyota and GMTC and its fleet of 250 robotaxis and 190 robotrucks further are seen as pivotal in its path to success in China.
Since its Nasdaq debut in late November, Pony AI’s stock has risen over 9%, with a market capitalization now exceeding $3 billion.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
subscribe to Asianet Newsable WhatsApp channel by clicking here.