Autonomous driving technology company Pony.ai has secured a $100m (SR375.15m) investment from NEOM Investment Fund (NIF), the investment arm of the city of NEOM in Saudi Arabia. Under the alliance, NEOM and Pony.ai will set up a joint venture (JV) to develop, manufacture and offer autonomous cars, services for autonomous driving, and infrastructure for smart vehicles.

In a statement, NEOM said as it is being constructed entirely from scratch, it provides the environment for developing and deploying advanced autonomous mobility solutions on land, sea, and in the air.

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