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Neom announces investments in future land and sea travel
Neom is investing in autonomous driving company Pony.ai and electric seaglider company Regent to advance plans for zero-emission, multimodal transport.
Neom, the smart, regional greenfield development being built in Saudi Arabia, which includes The Line smart city, has announced investments in both autonomous vehicles and electric sea gliders. It will invest $100m through the Neom Investment Fund (NIF), into Pony.ai, a global autonomous driving company.
Additionally, a joint venture will be established for autonomous technology solutions for the region.
NIF has also closed an investment into Regent, the US-based electric seaglider manufacturer. It makes Neom the largest single contributor in Regent’s series A round, enabling the company to take its technology to the next stage. The investment is part of a multi-year partnership to establish seaglider passenger operations in the region.
Autonomous and advanced vehicles
Through the AV joint venture, Pony.ai and Neom will develop, manufacture and deliver autonomous driving services, advanced vehicles, and smart vehicle infrastructure in Neom and key markets in the Middle East and North Africa.
“The investment in Pony.ai is an essential part of our ambitious plans to build a smart, zero-emission, autonomous multimodal transport system, connecting people and communities across Neom, while incubating new technologies for the benefit of the world,” said Terry Wong, executive director, land mobility, Neom.
“Seagliders are an innovative component of Neom’s mobility’s aim to build the world’s first truly sustainable, shared, safe, and seamless multimodal transport system”
“With this investment, we are moving ever closer towards a new future for commuters and travellers – one that is safer, more convenient, and more sustainable.”
The joint venture will include a local autonomous vehicle manufacturing and R&D facility.
Pony.ai claims it is the first to operate fully driverless vehicles in both Beijing and Guangzhou and is among the first in China to obtain licenses to operate fully driverless vehicles in all four Tier-1 Cities in China (Beijing, Guangzhou, Shanghai and Shenzhen).
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Neom’s investment in seaglider company Regent is part of a multi-year partnership with Regent to establish seaglider passenger operations in the region. It includes a commitment by Regent to establish a Middle East R&D and training hub to support seaglider enablement as well as infrastructure and operational readiness.
From 2024 onwards, young Saudi engineering and tech graduates working for Neom will have the opportunity for work placements at Regent and learn more about its technology. Regent will also conduct on-site testing to be ready for operational rollout by the mid part of the decade.
“Seagliders are an innovative component of Neom’s mobility aim to build the world’s first truly sustainable, shared, safe, and seamless multimodal transport system,” said Wong. “They will provide a fresh approach to coastal transportation in Neom, both passenger and freight, connecting key destinations along 468 kilometres of coastline, and reflect our belief in zero-carbon technologies, and the growth of new industries and skills within the kingdom.”
The seagliders float on a hull at the dock, travel on wave tolerant hydrofoils in harbours, and fly within one wingspan of the surface over open water at speeds up to 180mph (289kph). Regent’s flagship offering is the 12-passenger Viceroy.
“Regent and Neom are focused on collaboratively solving operational details through this strategic investment and partnership,” said Billy Thalheimer, co-founder and chief executive officer, Regent. Neom’s goal to build a carbon-free community through revolutionary design is strongly aligned with our mission to build sustainable connections using seagliders.”
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