Pony AI Stock Is Sliding Wednesday: What's Going On?

Pony AI Inc. PONY stock traded lower on Wednesday. CNBC reported that one of the company’s robotaxis caught on fire.

The Details: The incident occurred in Beijing, with no passengers involved. This marks the first time one of Pony AI’s robotaxis has caught fire.

Pony AI said one of its fully autonomous vehicles was found to have an abnormal status in Beijing around 9:30 a.m. local time on May 13. Service workers arrived within two minutes, but the vehicle caught fire during the response.

The company has not announced the cause of the fire.

PONY Price Action: PONY AI shares are down 5.68% at $16.93 on Wednesday, according to data from Benzinga Pro.

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