Goldman Sachs analyst Allen Chang initiated coverage of Pony AI (PONY) with a Buy rating and $19.60 price target Pony AI is the leader in L4 autonomous mobility in terms of fleet size, offering robotaxi and robotruck services across China, the firm says. The company is among the first in China to operate fully driverless robotaxis in four tier-1 cities, obtaining the regulatory permits needed to provide public-facing robotaxi services. Pony AI continues to make progress on robotaxi commercialization, and Goldman expects a revenue CAGR of 27% in 2024-2027 on ramp up of its robotaxi fleet operation and start of licenses fee contribution from robotaxi solutions, then a 158% CAGR over 2027-2030 with accelerated scale expansion, driving EBITDA and NI to turn positive in 2030.