Following its announcement of intentions to debut driverless vehicle services at Hong Kong International Airport, with potential expansions into metropolitan Hong Kong, Pony.ai (PONY, Financials) shares dropped 9.4% to $13.83 on Monday.
According to Pony.ai, initially catering to airport personnel, its autonomous services at HKIA, one of the busiest airports worldwide, will During a media gathering, the Airport Authority Hong Kong recently displayed the company's seven-seat, sixth-generation robotaxi.
Pony.ai's autonomous technology finds a difficult testing ground in Hong Kong's traffic complexity, which includes left-side driving and crowded metropolitan surroundings. Operating comparable services at Beijing Daxing International Airport, the business is testing driverless cars for use at Guangzhou Baiyun International Airport.
Already reaching major benchmarks in China, Pony.ai has permission to run totally autonomous cars in Beijing, Guangzhou, Shanghai, and Shenzhen. In some cities, its public-facing robotaxi systems let consumers hail vehicles without safety drivers.
The announcement follows a December recognition allowing the company to connect airports and rail stations by offering cross-regional autonomous robotaxi services in China's Greater Bay Area. With their vehicles set to fly between mutually identified sites in Guangdong, Hong Kong, and Macau, Pony.ai provides residents with a dependable and safe means of mobility.
Founded in 2016, the company said that during the first half of 2024, its robotaxi fleet got an average of over 15 daily orders per vehicle, indicating development towards major commercialization. Operating over 250 robotaxis worldwide, Pony.ai has driven around 40 million autonomous kilometers (24.8 million miles) on public roadways.
By combining proprietary software and hardware, Pony.ai's Virtual Driver technology establishes the firm as a major actor in driving autonomous mobility forward. Apart from China, the business also has activities throughout Europe, East Asia, and the Middle East.
