NEOM, the smart and sustainable regional development in northwest Saudi Arabia, has announced an investment of $100 million, through the NEOM Investment Fund (NIF), into Pony.ai, a global autonomous driving company. Additionally, a joint venture will be established for developing and delivering autonomous technology solutions across the Middle East.
Pony.ai is the first company to operate fully driverless vehicles in both the Chinese cities of Beijing and Guangzhou.
It is among the first in China to obtain licenses to operate fully driverless vehicles in all four Tier-1 Cities in China (Beijing, Guangzhou, Shanghai and Shenzhen).
Majid Mufti, CEO of NIF, adds: “This investment aligns with the ambitious plans announced by NEOM to achieve autonomous transportation solutions for the region. Pony.ai’s autonomous driving technology is already available today and we are excited to be able to utilize it in NEOM in the near future.”
Terry Wong, Executive Director, Land Mobility, NEOM, comments: “The investment in Pony.ai is an essential part of our ambitious plans to build a smart, zero-emission, autonomous multi-modal transport system, connecting people and communities across NEOM, while incubating new technologies for the benefit of the world. With this investment, we are moving ever closer towards a new future for commuters and travelers – one that is safer, more convenient, and more sustainable.”
NEOM’s regional development provides a living lab for advancing autonomous mobility as a key part of its sustainable transport system, powered by 100% renewable energy.