Saudi Gazette report

NEOM — NEOM has unveiled a substantial investment of $100 million through the NEOM Investment Fund (NIF) into Pony.ai, a globally acclaimed autonomous driving company. In tandem, a groundbreaking joint venture is set to emerge, dedicated to pioneering autonomous technology solutions tailored for the region.

The collaboration between NEOM and Pony.ai aims to conceptualize, produce, and deliver autonomous driving services, cutting-edge vehicles, and intelligent vehicle infrastructure across NEOM and pivotal markets in the Middle East and North Africa (MENA) region.

Majid Mufti, the CEO of NIF, expressed, “This investment harmonizes with NEOM’s ambitious agenda to realize autonomous transportation solutions within the region. Pony.ai’s autonomous driving technology is already accessible today, and we are thrilled to integrate it into NEOM’s landscape in the near future.”

Terry Wong, NEOM’s executive director of Land Mobility, remarked, “The investment in Pony.ai is a vital element of our ambitious blueprint to construct a smart, zero-emission, autonomous multi-modal transport system.

“It aims to connect people and communities across NEOM while incubating novel technologies for the benefit of the global community. This investment propels us closer to a new era for commuters and travelers – one characterized by safety, convenience, and sustainability.”

The expansive and industry-redefining joint venture will encompass a cutting-edge local autonomous vehicle manufacturing and research and development facility. NEOM, strategically located, proves to be an optimal industrial hub for the evolution of Pony.ai’s autonomous vehicle technology within the region.

Dr. James Peng, co-founder, and CEO at Pony.ai, enthused “We are thrilled to collaborate with NEOM, merging Pony.ai’s world-class autonomous driving technology and operational expertise with NEOM’s vision to be the ‘land of the future.’

“This partnership seeks to develop, produce, and deliver autonomous mobility services and vehicles to the region. As a leading global autonomous driving technology company, this regional expansion marks a significant milestone for our global aspirations and our vision of ‘autonomous mobility everywhere,’ propelling the global AV industry into a new era.”

NEOM’s distinctive regional development serves as a global living laboratory for advancing autonomous mobility as an integral part of its sustainable, multi-modal transport system, driven by 100% renewable energy.

Constructed from scratch, devoid of the constraints of existing infrastructure, NEOM provides an ideal environment for refining and implementing cutting-edge autonomous mobility solutions on land, sea, and air. This builds upon its previous investments in eVTOL and electric seaglider technologies.

Pony.ai, a pioneer in the field, boasts the distinction of operating fully driverless vehicles in both Beijing and Guangzhou. It stands among the first in China to secure licenses for fully driverless vehicles in all four Tier-1 Cities in China, including Beijing, Guangzhou, Shanghai, and Shenzhen.