Pony.ai Scores $100 Million Investment From Saudi Arabia

What’s new: Chinese self-driving vehicle start-up Pony.ai Inc. scored a $100 million investment from the strategic investment arm of Saudi Arabia’s flagship Neom urban development project.

Pony.ai will also set up a joint venture with the Neom Investment Fund to develop, manufacture and operate robotaxis in the Middle East, Caixin learned from sources.

Since its founding in 2016, Pony.ai has completed several rounds of fundraising. The last round in March 2022 valued the company at $8.5 billion.