NEOM, through its strategic arm NEOM Fund, announced its investment of 100 million US dollars, in "pony AI Pony.ai", the leading global company in the field of autonomous vehicles, with the aim of manufacturing autonomous vehicles, developing technologies associated with this industry, and providing advanced services in Neom and the MENA region.

Through this partnership, Neom and"pony AI" are providing self-driving vehicle services, manufacturing and development of advanced vehicles and smart vehicle infrastructure at NEOM, covering the main markets in the Middle East and North Africa.this investment reflects NEOM's ongoing commitment to building the first sustainable, integrated and self-driving participatory transportation system in the world, in addition to its pivotal role in localizing advanced industries, including the manufacture of autonomous vehicles and their multiple acquisitions.

This ambitious investment, which will transform the transport sector, includes the establishment of a local factory supported by the latest technologies for the manufacture of autonomous vehicles, and the establishment of a regional headquarters for research, development and manufacturing, due to NEOM's strategic location ideal for the development of autonomous vehicle technologies of the Company "pony AI" in the region.

Majid Mufti, CEO of NEOM Investment Fund, said: "this investment is in line with the ambitious plans announced by NEOM to provide autonomous mobility solutions in the region, adding:"the technology related to driving self-driving vehicles and Boni AI has become available, and we are excited to use and benefit from it in NEOM in the near future.

Terry Wong, executive director of regional and urban mobility at NEOM, said: "the investment in pony AI is a key part of our ambitious plans to build a smart, multi-modal, zero-emission autonomous transport system that connects people and communities across NEOM, and this will enable us to embrace and innovate new technologies that benefit the world," adding:" This investment brings us even closer to creating a new, more convenient, sustainable and safer future for passengers and travelers.

Co-founder and CEO of pony AI, Dr. James Ping, said: "We are delighted to partner with Neom, as world-class autonomous driving technologies and our long-standing experience at Pony AI will contribute to the realization of NEOM's vision to be the 'land of the new future', which enables the greatest minds and the best talents to embody leading ideas for the development, manufacture and provision of autonomous mobility vehicle services in the region.

As a leading global company in the field of autonomous vehicle technologies, this major regional expansion of our company represents a milestone in our march towards achieving our aspirations globally and our vision of enabling "autonomous mobility everywhere", as this partnership will contribute to the development of this industry and push it to new heights,"he added.

With its unique environment, NEOM is a world-class live laboratory to enhance autonomous mobility experiences and technologies, to be an essential part of a sustainable multimodal transport system powered by 100% renewable energy.being built from scratch, without any of the complexities of outdated infrastructures, NEOM will provide an ideal environment for improving and implementing advanced autonomous mobility solutions by land, sea and air, supported by its previous investments in eVTOL electric vehicles at Volocopter, as well as its investment in the electric seaplane industry.

Pony AI is the first company to operate a fully autonomous taxi service, known as "robotaxi", and provides its services in both Beijing and Guangzhou, and is among the first companies to obtain permits to test fully autonomous vehicles in 4 major cities in China, namely: Beijing, Guangzhou, Shanghai and Shenzhen.