NEOM injects $100m into to propel autonomous automobile deployment

by ADeeL

Saudi Gazette report

NEOM — NEOM has unveiled a considerable funding of $100 million via the NEOM Funding Fund (NIF) into, a globally acclaimed autonomous driving firm. In tandem, a groundbreaking three way partnership is ready to emerge, devoted to pioneering autonomous expertise options tailor-made for the area.

The collaboration between NEOM and goals to conceptualize, produce, and ship autonomous driving companies, cutting-edge automobiles, and clever automobile infrastructure throughout NEOM and pivotal markets within the Center East and North Africa (MENA) area.

Majid Mufti, the CEO of NIF, expressed, “This funding harmonizes with NEOM’s bold agenda to appreciate autonomous transportation options throughout the area.’s autonomous driving expertise is already accessible right this moment, and we’re thrilled to combine it into NEOM’s panorama within the close to future.”

Terry Wong, NEOM’s government director of Land Mobility, remarked, “The funding in is a crucial factor of our bold blueprint to assemble a wise, zero-emission, autonomous multi-modal transport system.

“It goals to attach folks and communities throughout NEOM whereas incubating novel applied sciences for the good thing about the worldwide group. This funding propels us nearer to a brand new period for commuters and vacationers – one characterised by security, comfort, and sustainability.”

The expansive and industry-redefining three way partnership will embody a cutting-edge native autonomous automobile manufacturing and analysis and improvement facility. NEOM, strategically positioned, proves to be an optimum industrial hub for the evolution of’s autonomous automobile expertise throughout the area.

Dr. James Peng, co-founder, and CEO at, enthused “We’re thrilled to collaborate with NEOM, merging’s world-class autonomous driving expertise and operational experience with NEOM’s imaginative and prescient to be the ‘land of the longer term.’

“This partnership seeks to develop, produce, and ship autonomous mobility companies and automobiles to the area. As a number one world autonomous driving expertise firm, this regional growth marks a major milestone for our world aspirations and our imaginative and prescient of ‘autonomous mobility in all places,’ propelling the worldwide AV {industry} into a brand new period.”

NEOM’s distinctive regional improvement serves as a worldwide dwelling laboratory for advancing autonomous mobility as an integral a part of its sustainable, multi-modal transport system, pushed by 100% renewable vitality.

Constructed from scratch, devoid of the constraints of current infrastructure, NEOM gives a great surroundings for refining and implementing cutting-edge autonomous mobility options on land, sea, and air. This builds upon its earlier investments in eVTOL and electrical seaglider applied sciences., a pioneer within the discipline, boasts the excellence of working totally driverless automobiles in each Beijing and Guangzhou. It stands among the many first in China to safe licenses for totally driverless automobiles in all 4 Tier-1 Cities in China, together with Beijing, Guangzhou, Shanghai, and Shenzhen.

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