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Pony.ai receives USD 100 million from Saudi Arabia
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Oct 24, 2023
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Oct 24, 2023

Pony.ai receives USD 100 million from Saudi Arabia

Funding

  • Pony.ai, a China- and US-based self-driving vehicle technology company, has received USD 100 million in funding from Saudi Arabia's City of the Future (Neom) project. As per sources, the company's valuation remained unchanged at USD 8.5 billion following the investment.

  • The companies plan to set up a joint venture (JV) in Neom, housing Pony.ai's robotaxi fleet, self-driving car manufacturing, and research center.

  • Analyst QuickTake: Today’s news comes a week after Pony.ai signed a collaboration agreement with the Abu Dhabi Investment Office (ADIO) to join Abu Dhabi's Smart and Autonomous Vehicles Industry (SAVI) cluster in Masdar City in Abu Dhabi, UAE.

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