Neom, a future city and development project in Saudi Arabia, has given $100 million to the Chinese company Pony.ai, which specializes in driverless cars. The two will establish a joint venture in the deal to develop, manufacture, and deploy autonomous vehicles and smart infrastructure in Neom and other significant Middle Eastern and North African locations.
When Saudi Arabian and Chinese companies worked together more, particularly in science and technology, the deal with Pony.ai was reached.
The partnership happened the day after Neom announced its plan to partner with Danish freight forwarder DSV on a $10 billion deal.
Saudi Arabia’s Crown Prince Mohammed bin Salman oversees the $500 billion Neom project, which will eventually house nine million people. As a component of the prince’s Vision 2030 reform plan, the development attempts to diversify the economy away from the oil industry.
Neom Investment Fund CEO Majid Mufti said, “This investment aligns with the ambitious plans announced by NEOM to achieve autonomous transportation solutions for the region.” We are ecstatic to have Pony.ai’s autonomous driving technology in NEOM shortly. It is currently accessible.”
Neom and Pony.ai have agreed to establish a regional R&D and manufacturing facility as part of their partnership.
Driverless car operations in Shanghai, Shenzhen, Beijing, and Guangzhou are authorized for Pony.ai. Pony.ai now drives completely autonomous cars in these cities.
