China-based autonomous driving firm Pony.ai has passed its Hong Kong listing hearing, paving the way for its initial public offering.

The company reported a net loss of US$96.1 million (HK$749.58 million) for the first half of 2025, widening 87 percent from a year earlier, while revenue rose 43 percent to US$35.4 million. Its adjusted loss for the period was US$74.4 million, 33 percent higher year-on-year.

Pony.ai said it plans to use the initial public offering proceeds over the next five years to support its market entry strategy, including large-scale commercialization of Level 4 autonomous driving technologies for both passenger mobility and trucking services.

MeanwhileStellantis and Pony.ai said on Friday that they had signed an agreement to jointly develop and test self-driving vehicles in Europe.

The partnership will combine Pony.ai's autonomous driving software with Stellantis' battery-electric medium-sized van platform designed for SAE Level 4, or hands-off, eyes-off, driving.

Pony.ai, founded in 2016 in China and operating fully driverless robotaxi services in major Chinese cities, will manage European operations through its Luxembourg-based division.

Testing will start with the Peugeot e-Traveller model in Luxembourg, with a rollout across European cities from 2026, focusing on safety, performance, and regulatory compliance, the companies said.

The partnership will initially focus on light commercial vehicles, a segment where Stellantis, through its Pro One commercial vehicle business unit, holds a leading position in Europe.

REUTERS and STAFF REPORTER

Pony.ai clears Hong Kong listing hearing