On October 30, WeRide CFO Li Xuan reportedly sent a lengthy message in an analyst group, directly accusing Pony AI of including false data allegations against WeRide in its Hong Kong investor roadshow materials. Li issued a formal rebuttal.
Li Xuan stated that Pony AI’s claim that "WeRide operates in only one region (Beijing)" is a blatant deception to investors. The WeRide app publicly offers fully driverless Robotaxi services in Beijing and Guangzhou. WeRide has a fleet of 700+ robotaxis, over 2,200 days of public operation records, and commercial robotaxi operations in Beijing, Guangzhou, the Middle East, and other regions—all clearly documented in its IPO filing. The allegation that "completed rides stand at zero" is entirely fabricated.
Li also questioned Pony AI’s technical capabilities, noting that WeRide’s "single-stage end-to-end" mass production application has been validated by Bosch and Chery. Meanwhile, Pony—without a scaled L2+ project—claims to have achieved full L4 single-stage end-to-end autonomy while dismissing WeRide’s approach as "two-stage," a stance Li suggested would be ridiculed by technical experts.
Additionally, Li highlighted WeRide’s global presence, operating in 30 cities across 11 countries with permits in 7 nations—5 of which allow fully driverless operations—a fact widely recognized in the industry.
Li emphasized that Pony’s actions exceed normal competition, citing multiple misleading and disparaging statements in its roadshow. Such conduct could damage Pony’s industry credibility, and WeRide demands immediate correction of all false claims while reserving all legal rights.
Background: Following Hesai Technology’s September 16 Hong Kong listing as a U.S.-China dual-listing pioneer, China’s autonomous driving sector now sees two leaders racing for Hong Kong IPOs. On October 14, China’s SEC issued offshore listing approvals: Pony AI plans to issue up to 102,146,500 ordinary shares, while WeRide aims for 102,428,200 shares. Both filed post-hearing prospectuses on October 17 and 19, marking the start of their capital market shift from U.S. to Hong Kong.
As core L4 autonomous driving players, the firms pursue divergent strategies in market positioning, fleet deployment, and commercialization. Their stark financial contrasts and institutional expectation gaps underscore the industry’s deep losses and dim near-term profitability.
Strategically, Pony AI focuses on China’s four tier-1 cities, holding all six available autonomous taxi permits—claiming first-mover advantages for market expansion. It also targets Luxembourg, South Korea, Saudi Arabia, and the UAE for growth. WeRide adopts an "overseas-first" approach, prioritizing Europe and the Middle East for their economic and operational advantages in AV deployment. It leads competitors by 1.5+ years in Singapore’s AV licensing, by 2+ years in UAE’s L4 testing (first outside China/U.S.), and by ~2 years in Saudi Arabia’s L4 implementation.
Fleet differences reflect commercial priorities: WeRide’s 1,500+ vehicles include 700+ robotaxis (100+ in Middle East), while Pony’s 680+ robotaxis and 170+ autonomous trucks (owned/leased) cover urban and logistics scenarios.