Pony AI Expands Sunlight Mobility Partnership to Accelerate Scalable, Capital-Efficient Fleet Growth

Pony AI Inc. (NASDAQ:PONY) is one of the best new tech stocks to buy right now. On November 26, Goldman Sachs maintained a Buy rating on Pony AI with a price target of HK$122.07.

Earlier, on November 24, Pony AI announced an expanded partnership with Sunlight Mobility to implement an asset-light model. This agreement builds upon the initial collaboration established between the two companies in June 2024. It is a milestone in Pony AI’s strategy to build a scalable, capital-efficient, and rapidly deployable mobility ecosystem to speed up the company’s fleet expansion.

Pony AI Expands Sunlight Mobility Partnership to Accelerate Scalable, Capital-Efficient Fleet Growth.

Sunlight Mobility, which is a leading mobility service platform operator covering over 180 cities across China, will now fund the Gen-7 Robotaxi vehicles. The initial fleet financed under this asset-light model is planned for deployment in Guangzhou before the end of 2025. Both parties have plans to further expand the deployment into other cities across China in the coming years.

The agreement also highlights the growing market recognition of Pony AI’s Robotaxi business model, as it indicates an increasing number of third parties are willing to fund fleet deployment and lease Pony AI’s Virtual Driver for commercial operations. The collaborative autonomous driving vehicle/ADV fleet supply will be integrated into both Pony AI and Sunlight Mobility’s platforms, ensuring that both parties share the economic benefits and create a mutually beneficial situation.

Pony AI Inc. (NASDAQ:PONY), through its subsidiaries, engages in the autonomous mobility business in the People’s Republic of China, the US, and internationally.

While we acknowledge the potential of PONY to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than PONY and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.