Pony AI Teams Up With Luxembourg Transit Giant to Launch Level 4 Autonomous Vehicle Trials
Pony AI Inc has received a permit from Luxembourg’s Ministry of Mobility and Public Works to conduct Level 4 Robotaxi testing. The company has established its first research and testing hub in Europe in Luxembourg, marking a significant milestone in the autonomous vehicle industry. Pony.ai already holds testing permits in China, the United States, South Korea, and now in Luxembourg. The company will collaborate with Emile Weber, Luxembourg's top mobility solutions provider, to test its autonomous vehicles. This partnership aims to combine Pony.ai's cutting-edge technology with Emile Weber's transportation expertise.
On Thursday, Pony AI Inc announced it has won a permit from Luxembourg’s Ministry of Mobility and Public Works to begin Level 4 (L4) Robotaxi testing. Pony.ai established its first dedicated European research and testing hub in Luxembourg, making it the first autonomous vehicle company. The company has testing permits in China, the United States, South Korea, and Luxembourg.
Pony.ai's Collaboration with Emile Weber
Pony.ai will test autonomous vehicles with Emile Weber, Luxembourg’s leading mobility solutions provider. The collaboration combines Pony.ai’s advanced autonomous technology with Emile Weber’s extensive transportation expertise, spanning public and private transit, taxis, vehicle rentals, and tourism operations.
In March, Pony.ai signed a Memorandum of Understanding (MoU) with the Government of the Grand Duchy of Luxembourg to jointly explore developing autonomous mobility solutions. In September, the company formally established its European division and hub in Luxembourg, now serving as the foundation for the region’s R&D and testing initiatives. In October, the company partnered with Emile Weber to research, develop, and pilot autonomous vehicle solutions in Luxembourg.
Pony.ai's Recent Developments
In March, Pony.ai launched a paid, fully driverless robotaxis in Shenzhen’s key Nanshan business district. The company expanded commercial operations to connect Nanshan with its existing service zone in Baoan District. In March, the California Public Utilities Commission (CPUC) approved Tesla, Inc’s application to manage a fleet of vehicles for pre-arranged trips. Elon Musk pivoted to robotaxis amid slowing sales, promising driverless services in California and Texas this year. In October, Tesla launched the Cybercab, a concept robotaxi without steering or pedals.
Financial Performance of Pony.ai
Pony.ai’s stock has plunged 37% in the last 12 months. The company reported a fourth-quarter sales decline of 29.8% to $35.52 million. Robotaxi services revenue dipped 61.9% to $2.6 million, while Robotruck services revenue surged 72.7% to $12.9 million. The company reported an adjusted EPS loss of 31 cents versus a 20 cent loss a year ago.
Price Action: PONY stock is down 5.29% at $7.16 premarket at last check Thursday.
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