Oklo stock tumbles as Financial Times scrutinizes valuation
DUBAI - Autonomous driving technology company Pony.ai, currently valued at $7.57 billion, has received a permit from Dubai’s Roads and Transport Authority (RTA) to conduct self-driving vehicle trials on the emirate’s roads, according to a press release statement. According to InvestingPro data, the company maintains a strong financial position with more cash than debt on its balance sheet.
The permit follows a partnership between Pony.ai and Dubai’s RTA announced in May 2025. The company has begun pilot testing in designated areas, with plans to launch commercial driverless services in 2026. With a current ratio of 6.19, the company’s liquid assets significantly exceed its short-term obligations, providing financial flexibility for expansion.
The announcement coincided with the conclusion of the Dubai World Congress for Self-Driving Transport 2025 on September 25, where Pony.ai exhibited its technologies and a robotaxi model intended for Dubai deployment.
"Dubai’s robust transport infrastructure, supportive policy environment, and public acceptance of emerging technologies give us confidence in promoting the large-scale adoption of autonomous driving technology," said Dr. James Peng, Founder and CEO of Pony.ai.
The initiative aligns with Dubai’s vision to transform 25% of urban trips to autonomous transport by 2030. Pony.ai aims to integrate autonomous ride-hailing services into Dubai’s public transport network. While the company generated $85.74 million in revenue last year, InvestingPro analysis suggests it trades at a premium valuation, with 10+ additional insights available to subscribers.
In 2025, Pony.ai began mass production of its seventh-generation autonomous driving system, expanding its fleet to over 500 vehicles operating across Beijing, Shanghai, Guangzhou, and Shenzhen. The company has also recently announced partnerships in Singapore, Qatar, and Luxembourg, and is working with Uber to integrate its robotaxis into the Uber app. The stock has shown strong momentum with a 93.2% return over the past six months, though analysts anticipate the company will remain unprofitable this year, with next earnings scheduled for November 12, 2025.
In other recent news, Pony AI has made significant strides in the autonomous vehicle sector. The company has commenced road testing for its Gen-7 Robotaxi in multiple Chinese cities, including Beijing, Guangzhou, and Shenzhen, extending service hours to 24/7 in certain areas. Pony AI was also among eight firms granted commercial Robotaxi licenses in Shanghai, allowing them to charge for driverless services across a 2,700 km route network. On the financial front, Goldman Sachs has raised its price target for Pony AI to $27.70, maintaining a Buy rating due to the company’s expansion in robotaxi services. Additionally, UBS initiated coverage on Pony AI with a Buy rating and a $20 price target, citing the company’s unique position in launching commercial fee-charging driverless operations in all tier-one cities in China.
Moreover, Pony AI has attracted significant institutional investment, with ARK Invest leading the charge with a $12.9 million investment, marking ARK’s first foray into a Chinese firm focused on Level 4 autonomous driving technology. This investment is part of a broader influx of capital from at least 14 major global institutional investors during the second quarter. These developments highlight Pony AI’s growing influence and expansion in the autonomous driving industry.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.