{"id":74463,"date":"2023-10-26T00:00:00","date_gmt":"2023-10-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/10\/26\/neoms-investment-fund-invests-usd-100-mn-in-pony-ai-to-expand-autonomous-vehicles-in-mena\/"},"modified":"2023-10-26T00:00:00","modified_gmt":"2023-10-26T00:00:00","slug":"neoms-investment-fund-invests-usd-100-mn-in-pony-ai-to-expand-autonomous-vehicles-in-mena","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/10\/26\/neoms-investment-fund-invests-usd-100-mn-in-pony-ai-to-expand-autonomous-vehicles-in-mena\/","title":{"rendered":"Neom\u2019s investment fund invests USD 100 mn in Pony.ai to expand autonomous vehicles in MENA"},"content":{"rendered":"

Neom invests in automotive vehicle company: <\/strong>Saudi megaproject Neom\u2019s investment arm, Neom Investment Fund (NIF), is investing USD 100 mn in autonomous driving company Pony.ai<\/a> to introduce autonomous vehicles in Neom and key markets in the Middle East, according to a press release (pdf)<\/a>. NIF will also form a joint venture with Pony.ai to develop, manufacture and deliver autonomous vehicles, an autonomous driving service, and smart vehicle infrastructure throughout the MENA region. <\/p>\n

The details: <\/strong>The joint venture will establish R&D and manufacturing headquarters across the region, according to the press release. <\/p>\n

What they said: <\/strong>\u201cThe investment in Pony.ai is an essential part of our ambitious plans to build a smart, zero-emission, autonomous multi-modal transport system, connecting people and communities across Neom, while incubating new technologies for the benefit of the world,\u201d Neom\u2019s Executive Director of Land Mobility Terry Wong said.<\/p>\n

Background: <\/strong>Neom previously announced rolling out automated logistics solutions at its multiple sites. These will include the world\u2019s first fully automated seaport, autonomous ground and air shuttles and a carless city<\/a>. It also recently invested USD 175 mn<\/a> in a joint venture with eVTOL company Volocopter<\/a> that will see them both work together on \u201cfleets, operations and infrastructure to localize industry innovation.\u201d <\/p>\n

About Ponyai: <\/strong>Founded in 2016, Pony.ai is headquartered in Silicon Valley and focuses on autonomous mobility. The company\u2019s products include a robotaxi, robotruck and personally owned vehicles. <\/p>\n","protected":false},"excerpt":{"rendered":"

The fund will establish a JV with Pony.ai to develop local manufacturing of autonomous vehicles in the region<\/p>\n","protected":false},"author":1,"featured_media":74464,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[45],"tags":[17,44],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-74463","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-enterprise-logistics","tag-investment-watch","wpautop","entry"],"acf":{"mongo_id":"4d598f0b-806f-4f26-bf1e-1d83a89ea6f7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/10\/1305.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Neom\u2019s investment fund invests USD 100 mn in Pony.ai to expand autonomous vehicles in MENA","related_issue":[74456],"teaser":"The fund will establish a JV with Pony.ai to develop local manufacturing of autonomous vehicles in the region","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/10\/.59c71820-ceba-4d59-9955-4477fb0df90a.mp3"},"yoast_head":"\nNeom\u2019s investment fund invests USD 100 mn in Pony.ai to expand autonomous vehicles in MENA - Logistics<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/logistics\/2023\/10\/26\/neoms-investment-fund-invests-usd-100-mn-in-pony-ai-to-expand-autonomous-vehicles-in-mena\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Neom\u2019s investment fund invests USD 100 mn in Pony.ai to expand 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