Pony AI Inc. (PONY) shares skyrocketed by 12.97% in intraday trading on Monday, as the autonomous driving company received a significant boost from regulatory developments in China's Greater Bay Area.
The surge was fueled by the announcement from Guangdong province, which will now allow autonomous vehicle companies to test their robocars across key districts in Shenzhen, Guangzhou, and Zhuhai with a single permit. Moreover, Hong Kong and Macau are poised to join this initiative, creating the largest autonomous driving test zone in China.
This game-changing move is seen as a massive signal that the Greater Bay Area is positioning itself as a global leader in autonomous innovation. Analysts view this as a significant growth opportunity for Pony AI, which already operates 250 robotaxis across four major cities and has been securing regulatory wins. With a strong cash position to fuel expansion, the company is well-positioned to capitalize on this burgeoning market.
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