NEOM Investment Fund Invests USD 100M in Pony.ai

NEOM has announced a $100 million investment in Pony.ai, a leader in autonomous driving technology. A joint venture will be established to develop self-driving technology solutions in the region. The joint venture will focus on developing, manufacturing, and providing autonomous driving services and smart vehicle infrastructure, emphasizing localization in Saudi Arabia. Additionally, a research, development, and manufacturing hub will be set up in NEOM. According to Majid Mufti, CEO of the NEOM Fund, this investment aligns with ambitious plans to achieve autonomous transportation solutions in the area.