VMS Invested Company Pony.ai successfully completes USD 100 million funding round from Saudi Arabia’s NEOM
We are pleased to announce that VMS invested company Pony.ai has received an investment of USD 100 million from Saudi Arabia’s special economic zone NEOM and its strategic investment arm, NEOM Investment Fund. They will build a joint venture to expand and deliver autonomous driving services and vehicles in both NEOM and key markets in the Middle East and North Africa region. The joint venture will include a local state-of-the-art autonomous vehicle manufacturing and R&D facility.
NEOM comprises of five regions centered around futuristic development, innovative technology and 100% clean energy generation. Pony.ai serves as an important partner in NEOM’s plans to build a smart, zero-emission, autonomous multi-modal transport system.
This investment also builds upon Pony.ai’s recent milestones in the smart mobility sector. In October 2023, Pony.ai signed a cooperation agreement with the Abu Dhabi Investment Authority during the GITEX Global 2023 event and became one of Abu Dhabi’s new Smart and Autonomous Vehicle Industries cluster members. Pony.ai also received a permit to begin autonomous driving tests on Yas Island, a popular tourist location in Abu Dhabi. Furthermore, Pony.ai was one of the first batch companies approved to operate fully driverless vehicles in Beijing, Guangzhou, and Shenzhen.
Pony.ai is a leading global autonomous driving technology company established in late 2016, striving to bring revolutionary development to future transportation through AI. Its key businesses include Robotaxi, Robotruck, and Personally Owned Vehicle (POV), commercializing safe autonomous driving capabilities for the world.