Why Shares of Pony AI Blasted 70% Higher This Week
Since last Friday, shares of Pony AI (NASDAQ: PONY), a China-based autonomous vehicle company, have blasted over 70% higher, as of 1:38 p.m. ET Thursday. The company recently rolled out its seventh-generation autonomous driving system at the auto show in Shanghai.Investors are clearly impressed by Pony AI's robotaxis, which are backed by Toyota. Management claims Pony's vehicles are 20% to 30% cheaper to make than those built by the U.S.-based Waymo. Pony also said it had cut its production costs on the vehicles by 70% from its previous generation, and that its self-driving systems are very safe."The safety requirements for [Level 4] systems inherently surpass those of human drivers, which we believe is unattainable through merely imitating human behavior," Pony AI's chief technology officer, Tiancheng Lou, said in a statement. "Our proprietary PonyWorld generates realistic scenarios, conducts high-fidelity simulations, and establishes behavior evaluation benchmarks to make our autonomous decision-making go beyond human capability. Building on this advanced technology, our seventh-generation autonomous driving system not only makes [Level 4] autonomous driving possible but also ensures scalability at a manageable cost."Continue reading
Since last Friday, shares of Pony AI (NASDAQ: PONY), a China-based autonomous vehicle company, have blasted over 70% higher, as of 1:38 p.m. ET Thursday. The company recently rolled out its seventh-generation autonomous driving system at the auto show in Shanghai.
Investors are clearly impressed by Pony AI's robotaxis, which are backed by Toyota. Management claims Pony's vehicles are 20% to 30% cheaper to make than those built by the U.S.-based Waymo. Pony also said it had cut its production costs on the vehicles by 70% from its previous generation, and that its self-driving systems are very safe.
"The safety requirements for [Level 4] systems inherently surpass those of human drivers, which we believe is unattainable through merely imitating human behavior," Pony AI's chief technology officer, Tiancheng Lou, said in a statement. "Our proprietary PonyWorld generates realistic scenarios, conducts high-fidelity simulations, and establishes behavior evaluation benchmarks to make our autonomous decision-making go beyond human capability. Building on this advanced technology, our seventh-generation autonomous driving system not only makes [Level 4] autonomous driving possible but also ensures scalability at a manageable cost."