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Welcome to Caixin’s Tech Insider, your twice-weekly wrap on the movers, shakers and deal-makers in China’s tech scene.

Pony.ai gets $100 million investment from Saudi Arabia

Chinese autonomous vehicle startup Pony.ai Inc. has received a $100 million investment from the strategic investment arm of Saudi Arabia’s flagship Neom urban development project.

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