Pony AI Inc. (NASDAQ:PONY) is one of the best new tech stocks with huge upside potential. On July 10, Pony AI commenced the mass production of its 7th-generation (Gen-7) Robotaxi to expand its fleet to 1,000 vehicles by the end of 2025. The company revealed its Gen-7 autonomous driving system at the Shanghai Auto Show in April this year.
Following this, mass production of the Guangzhou Automobile Group/GAC Gen-7 Robotaxi models began in June, and Beijing Automotive Industry Corporation/BAIC Gen-7 Robotaxi models started in July. The Gen-7 system features a platform-based design that allows for quick adaptation across different vehicle models.
A fleet of electric vehicles in a cityscape, representing the companies success in urban transportation.
It is notable for being the first in the world to utilize 100% automotive-grade components. This design also reduces the bill-of-materials expenses for the autonomous driving kit by 70% compared to the earlier generation. Following the commencement of mass production, Pony AI also initiated road testing of the Gen-7 Robotaxis in Guangzhou and Shenzhen.
Pony AI Inc. engages in the autonomous mobility business in China, the US, and internationally.
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This article is originally published at Insider Monkey.
