Chinese autonomous driving startup, Pony AI Inc., is seeing strong investor support as it expands its robotaxi fleet and moves towards profitability. ARK Invest, led by Cathie Wood, invested nearly $12.9 million in Pony.AI recently, alongside 14 other global investors. Pony.AI recorded a 158% year-over-year increase in robotaxi revenue in the second quarter and aims to operate 1,000 vehicles by year-end. It holds commercial permits for fully driverless operations in China’s four largest cities and recently partnered with Tencent’s WeChat platform. Analysts project significant growth potential for Pony.AI in the burgeoning robotaxi market.

Read more at Yahoo Finance: Why Cathie Wood’s ARK Invest And Others Are Betting On Pony.AI