NEOM invests US$100M in Pony.ai to activate autonomous vehicles in NEOM and across the Middle East; new JV
In Short : NEOM, the futuristic city planned in Saudi Arabia, has invested $100 million in Pony.ai, an autonomous driving technology company. This investment aims to activate autonomous vehicles within NEOM and expand across the Middle East. The partnership signifies a significant step towards the integration of cutting-edge technology in urban planning, supporting NEOM’s vision of becoming a hub for innovation and sustainability in the region.
In Detail : NEOM, the smart and sustainable regional development in northwest Saudi Arabia, is investing US$100 million, through the NEOM Investment Fund (NIF), into Pony.ai, a leading global autonomous driving company. Additionally, a joint venture will be established for autonomous technology solutions for the region.
Through the joint venture, NEOM and Pony.ai will develop, manufacture and deliver autonomous driving services, advanced vehicles, and smart vehicle infrastructure in NEOM and key markets in MENA (Middle East and North Africa).
The joint venture will include a local autonomous vehicle manufacturing and R&D facility. NEOM is a strategic industrial location for the development of Pony.ai’s autonomous vehicle technology within the region.
NEOM’s unique regional development provides a global living lab for advancing autonomous mobility as a key part of its multi-modal sustainable transport system, powered by 100% renewable energy. Being built from the ground up, without the challenge of existing infrastructure, NEOM offers an ideal environment for refining and implementing autonomous mobility solutions on land, sea and air, and builds on its previous investments in eVTOL and electric seaglider technologies.
Pony.ai is the first to operate fully driverless vehicles in both Beijing and Guangzhou and 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).