Pony AI Shares Surge After Hesai Lidar Partnership Announcement: What's Going On?
Shares of Pony AI Inc. (NASDAQ:PONY) are trading higher Thursday. The company selected Hesai Group Inc. (NASDAQ:HSAI)’s AT128 lidar sensors as the primary lidar system for its new seventh-generation Robotaxi fleet.
What To Know: The two companies made the announcement at the Shanghai International Automobile Industry Exhibition, where Pony AI revealed its latest automotive-grade L4 autonomous driving platform. Each of the three new Robotaxi models will be equipped with four Hesai AT128 sensors.
The integration is intended to enable 360° obstacle detection and navigation in complex traffic conditions. The sensors are specifically engineered for scalable deployment in autonomous vehicles.
Pony AI claims its new system achieves a 70% reduction in component costs compared to earlier models and features a modular architecture for easier deployment across multiple vehicle platforms. The company also reports that its autonomous fleet has already logged over 500,000 hours of fully driverless operation, and claims a tenfold safety improvement over human drivers.
Price Action: Pony AI shares were up 34.5% at $7.30 at the time of writing, according to Benzinga Pro.
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