Uber Stock Slips as Europe’s First Robo-Taxi Service Launches in Croatia

TLDR

• Uber, Pony.ai, and Verne are launching Europe’s first commercial robo-taxi service in Zagreb, Croatia.
• On-road testing has already begun using Pony.ai’s Gen-7 autonomous driving system on the Arcfox Alpha T5 Robotaxi.
• Verne will own and operate the fleet and lead European regulatory approvals, while Uber integrates the service into its platform.
• Uber will also invest in Verne as a strategic partner as part of the deal.
• Pony.ai dropped 12.2% to $10.00 on Thursday, weighed down by weaker-than-expected profit margins in Q4.

Uber Technologies has announced the launch of Europe’s first commercial robo-taxi service, set to begin in Zagreb, Croatia. The service is a three-way partnership between Uber, Chinese autonomous driving firm Pony.ai, and Croatian startup Verne.

Verne — named after French writer Jules Verne — will own the fleet and handle day-to-day operations. It will also lead efforts to secure European regulatory approvals and coordinate deployment across both its own app and Uber’s platform.

Pony.ai brings the tech. Its Gen-7 autonomous driving system will power the service, running on the Arcfox Alpha T5 Robotaxi — a vehicle built by Chinese automaker BAIC using technology from Huawei.

On-road testing in Zagreb has already started, with fare-charging operations expected to follow soon.

Uber will integrate the service into its global ride-hailing platform alongside Verne’s own customer-facing app. Uber is also investing in Verne as a strategic partner, supporting its future expansion.

The three companies have laid out ambitions to scale to thousands of robo-taxis in Zagreb and eventually expand into other European cities and markets.

Why the Stock Fell

Despite the headline news, Uber stock slipped 1.3% to $72.14 on Thursday. Pony.ai fell harder — down 12.2% to $10.00 — after reporting Q4 results that showed gross profit margins slightly below Wall Street expectations. Revenue came in at $29.1 million, just ahead of the $28.6 million estimate, but it wasn’t enough to offset the margin miss.

Uber Technologies, Inc., UBER

The muted reaction from Uber investors reflects a market that is growing used to robo-taxi partnership announcements. Uber has now built ties with nearly two dozen autonomous vehicle companies spanning robo-taxis, trucking, delivery robots, and drones.

Pony.ai’s Road to Profitability

Pony.ai went public in 2024, pricing its IPO at $13 per share. The stock now trades well below that level. In 2025, the company posted $90 million in revenue alongside an operating loss of roughly $284 million.

Wall Street expects 2026 revenue to hit $151 million, with the company targeting positive operating profit by 2029. By then, analysts project annual sales could reach $1.7 billion — which would require the robo-taxi fleet to scale from hundreds of vehicles to tens of thousands.

Pony.ai already operates robo-taxis commercially in Beijing and Shanghai, putting it in the same lane as Alphabet’s Waymo and Tesla in the global autonomous vehicle race.

Europe has lagged behind the U.S. and China in robo-taxi deployment, with most services still in the testing phase. Waymo currently operates across 10 U.S. cities.

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