|
|
On March 18, Huawei Cloud announced that the Saudi Arabian government presented the digital development vision, preferential industry policies, and investment opportunities to attract Chinese and global enterprises at the Huawei Cloud Automotive Forum during LEAP Summit 2024 in Saudi Arabia.
The country aims to stim
On February 6, the Minister of Industry and Mineral Resources, Saudi Arabia announced the establishment of the Automotive Manufacturers Association to provide solutions for developing and growing the sector while protecting the interests of manufacturers and scientists involved in it.
He also launched the National Au
On February 8, TASARU Mobility Investments announced its binding agreement to invest in Recogni. This investment aligns with Saudi Arabia's Vision2030.
Tasaru Mobility Investments is an investment company by the Public Investment Fund (PIF). It is focused on developing local supply chain capabilities for the automoti
On November 12, a joint venture called “Electric Vehicle Infrastructure Company (EVIQ)” was created by the Public Investment Fund (PIF) and Saudi Electricity Company (SEC).
Headquartered in Riyadh, it aims to enhance the Kingdom’s automotive ecosystem, through building a strong fast-charging network.
It will build
On November 6, multiple sources reported that South Korea’s Heerim Architects & Planners had won the architectural design contract for Hyundai Motor Company’s upcoming plant in Saudi Arabia. The plant will be located in the King Abdullah Economic City. The plant is a joint venture between the Saudi sovereign wealth f
On October 24, multiple sources reported that KG Mobility Corp. signed a memorandum of understanding (MOU) with the Saudi National Automotive Manufacturing Co. (SNAM) to establish an automotive component supply chain in Saudi Arabia.
Under this MoU, KG Mobility's domestic component suppliers will enter the Saudi Arab
On October 20, BeyonCa signed an investment and strategic cooperation memorandum with Al Faisaliah Group Holding Company (AFG), an investment group headquartered in Saudi Arabia. Under the MOU, both companies will jointly explore opportunities for electric vehicle development, encompassing research and development, m
On October 22, the Public Investment Fund (PIF) and Hyundai Motor Company (Hyundai) signed a joint venture (JV) agreement to establish a highly automated vehicle manufacturing plant in Saudi Arabia.
PIF will hold a 70% stake with Hyundai holding the remaining 30%.
Hyundai will also act as a strategic technology partn
On October 16, CEER Motors announced a partnership with King Abdullah University of Science and Technology (KAUST) are partnering to research and develop and innovate for breakthroughs in smart mobility, including connectivity and autonomous driving technologies.
This agreement will enable CEER technical experts and
On October 10, the Public Investment Fund (PIF) launched the National Automotive and Mobility Investment Company (Tasaru Mobility Investments), an investment company focused on developing local supply chain capabilities for the automotive and mobility industry in Saudi Arabia.
Tasaru Mobility Investments will suppo
On October 8, The Public Investment Fund (PIF) and Saudi Electricity Company (SEC) launched the Electric Vehicle Infrastructure Company. PIF will own a 75% stake in the company, while SEC will hold the remaining 25% stake.
It aims to deliver best-in-class electric vehicle (EV) fast-charging infrastructure across Saud
On September 29, the Ministry of Industry and Mineral Resources, Saudi Arabia announced that the Minister of Industry and Mineral Resources for Mining Affairs, and a delegation from the mining industries sector, visited several Chinese companies specialized in the supply chains of batteries and electric cars.
They vi