Chinese autonomous vehicle start-up, Pony.ai, has secured a $100 million investment from Neom, Saudi Arabia’s futuristic city and development project. This partnership aims to establish a joint venture that focuses on the development, manufacturing, and deployment of autonomous vehicles and smart infrastructure in Neom and other key markets in the Middle East and North Africa region.
Key Takeaway
Pony.ai has secured a
00 million investment from Saudi Arabia’s Neom, leading to the establishment of a joint venture for the development of autonomous vehicles and smart infrastructure in the Middle East and North Africa region. This partnership is part of Neom’s ambitious plans to achieve autonomous transportation solutions. The collaboration highlights the growing cooperation between Saudi Arabia and Chinese companies in the field of technological innovation.
Cooperation between Saudi Arabia and Chinese Companies
The collaboration between Pony.ai and Neom reflects the growing cooperation between Saudi Arabia and Chinese companies, particularly in technological and scientific innovation. This investment comes shortly after Neom’s announcement of a $10 billion joint venture with Danish freight forwarder, DSV.
Neom’s Vision 2030 Reform Plan
Neom is a $500 billion project led by Saudi Arabia’s crown prince, Mohammed bin Salman, aimed at accommodating 9 million people. The goal of this development is to diversify the Saudi Arabian economy and reduce its dependency on oil, in alignment with the Vision 2030 reform plan.
Utilizing Pony.ai’s Autonomous Driving Technology
The investment by Neom is in line with its plans to achieve autonomous transportation solutions in the region. Neom Investment Fund CEO, Majid Mufti, expressed excitement about the opportunity to utilize Pony.ai’s autonomous driving technology in Neom in the near future. The agreement also includes the establishment of a regional research and development as well as manufacturing headquarters for Pony.ai.
Leading the Way in Autonomous Vehicle Technology
Pony.ai is already operating fully driverless vehicles in Beijing and Guangzhou, with licenses to operate in those cities as well as in Shanghai and Shenzhen. This collaboration with Neom strengthens Pony.ai’s position as a leader in autonomous vehicle technology.
