Gulf Nations Put Their Money on China’s Self-Drive Expertise
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The GITEX technology exhibition in Dubai on Oct. 14, 2024.
Gulf oil nations undergoing an energy transformation are increasingly welcoming partnerships with Chinese intelligent driving firms chasing market expansion and investment.
On October 27, Hangzhou Hongjing Drive Technology Co. Ltd. presented its new hydrogen-powered truck at Saudi Aramco’s Tecshift Summit. The event, backed by Aramco’s venture arm Prosperity7, highlights key investments in sectors such as Artificial Intelligence (AI) and smart mobility. Prosperity7 has taken part in each of Hongjing’s four rounds of fundraising.
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- Gulf oil nations are partnering with Chinese intelligent driving firms for energy transformation and technological growth, showcased by the involvement of Saudi Aramco and Neom in ventures with Chinese companies like Hongjing and Pony.ai.
- Investments from entities like the Abu Dhabi Investment Authority are facilitating road tests for autonomous driving, aligning with UAE's goal of 25% autonomous transport by 2030.
- Middle Eastern investments prioritize local economic and technological impact, requiring Chinese firms to establish local production, like Hongjing's hydrogen truck project for Saudi Arabia's logistics sector.
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Who’s Who
- Hangzhou Hongjing Drive Technology Co. Ltd.
- Hangzhou Hongjing Drive Technology Co. Ltd. showcased a hydrogen-powered truck at Saudi Aramco’s Tecshift Summit. It signed a cooperation agreement with Saudi Aramco to deploy hydrogen trucks in Saudi Arabia's logistics, starting with Riyadh to Dammam Port. Supported by Aramco’s Prosperity7, Hongjing plans for local production and sees Saudi Aramco as a strategic partner for Middle East expansion. Local deliveries are set for 2025.
- Saudi Aramco
- Saudi Aramco is investing in the energy transformation by partnering with Chinese intelligent driving firms. It hosted the Tecshift Summit, showcasing investments in AI and smart mobility, and signed a cooperation agreement with Hongjing Drive Technology to deploy hydrogen-powered trucks in Saudi Arabia. Through its venture arm Prosperity7, it supports innovative transport solutions, emphasizing local production and technological growth in the Middle East.
- Pony.ai Inc.
- Pony.ai Inc., a Chinese autonomous driving start-up, has received a $100 million investment from Saudi Arabia's Neom and is setting up a joint venture to develop and operate robotaxis in the Middle East. Additionally, Pony.ai has partnered with the Abu Dhabi Investment Authority to conduct autonomous driving road tests in the UAE, aiming for broader deployment in line with Dubai's ambition to make 25% of its transportation autonomous by 2030.
- WeRide
- WeRide has launched driverless minibuses in Saudi Arabia with the Saudi Company for Artificial Intelligence and expanded to the UAE with an autonomous taxi service in Abu Dhabi. In September, WeRide signed a deal with Uber to promote its self-driving cabs on Uber's platform, with deployment set to begin in Abu Dhabi by the end of the year.
- Uber Technologies Inc.
- Uber Technologies Inc. has signed a deal with WeRide, a Chinese self-driving firm, to promote WeRide's self-driving cabs on Uber's platform. The deployment of these autonomous taxis is scheduled to start in Abu Dhabi by the end of the year, showcasing Uber's involvement in the expansion of intelligent driving technologies in the Middle East.
- Holon
- Holon is identified in the article as a German smart bus developer. Saudi Arabia has been investing in ventures like Holon through its Public Investment Fund to enhance smart transport across the kingdom. The investment reflects the Gulf nation's aim to diversify their economies by embracing advanced technology solutions for transportation.
- Nio Inc.
- Nio Inc., a high-end electric vehicle firm, received a $3.3 billion investment from Abu Dhabi-backed CYVN Holdings LLC. In October, they agreed to establish an R&D center in Abu Dhabi focused on intelligent driving and AI technology, with plans to develop a model for the local market. However, Nio has not announced any local manufacturing plans yet.
- Lucid Motors
- Saudi Arabia is investing in electric vehicle manufacturers like Lucid Motors through its Public Investment Fund. This investment is part of a broader strategy to enhance smart and sustainable transportation within the kingdom.
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What Happened When
- 2023：
- Pony.ai joined forces with the Abu Dhabi Investment Authority to conduct autonomous driving road tests in the UAE.
- By the end of 2023：
- WeRide plans to deploy its self-driving cabs in Abu Dhabi on Uber's platform.
- October 2024：
- Nio and CYVN Holdings LLC agreed to set up an R&D center in Abu Dhabi for intelligent driving and AI technology.
- September 2024：
- WeRide signed a deal with Uber Technologies Inc. to promote its self-driving cabs on the U.S. ride-sharing company's platform.
- October 27, 2024：
- Hangzhou Hongjing Drive Technology Co. Ltd. unveiled its new hydrogen-powered truck at Saudi Aramco's Tecshift Summit.
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