Company Insights Ceer Motors Transport Ceer Motors News Manufacturing Saudi and Morocco vie for lead in Mena EV race Two clear frontrunners in the global electric vehicle race have emerged in the Middle East and North Africa region. Both Saudi Arabia and Morocco have accelerated efforts to develop their EV capabilities in 2023, with a series of multi-million-dollar investments and partnership deals. The two kingdoms see the EV industry as central to achieving economic […] December 22, 2023 Renewable Energy PIF-backed Eviq plans to deploy 5,000 EV chargers Saudi Arabia has opened its first research and development facility to establish the country’s electric vehicle (EV) fast-charging infrastructure. Electric Vehicle Infrastructure Company (Eviq) – the newly launched joint venture between the Public Investment Fund (PIF) and Saudi Electricity Company – opened the facility in Riyadh. The company is on track to deploy 5,000 chargers […] December 18, 2023 Industry PIF in talks to invest $250m in Chinese EV company Saudi Arabia’s Public Investment Fund (PIF) is discussing investing $250 million in Chinese electric vehicle (EV) maker Human Horizons Group. The kingdom’s sovereign fund’s investment could potentially value the Shanghai-based company at $3 billion, Bloomberg reported, citing informed sources. An agreement is likely to be reached by the end of the year, but it could […] November 8, 2023 Industry PIF’s $550m Saudi facility to produce Pirelli tyres in 2026 Saudi Arabia’s Public Investment Fund (PIF) has signed a joint venture agreement with Pirelli of Italy to build a tyre manufacturing facility in the kingdom. The Riyadh-headquartered sovereign wealth fund will hold a 75 percent stake in the new $550 million JV, with Pirelli holding the remaining 25 percent. The Italian tyre manufacturer will provide […] October 27, 2023 Industry Work to begin in 2024 on Hyundai’s $500m Saudi car plant A joint venture between Saudi Arabia’s Public Investment Fund and Hyundai Motor Company is expected to break ground on its first vehicle manufacturing plant next year. The sovereign fund will hold a 70 percent stake in the venture, with the South Korean car giant holding the rest. Vehicle production is due to start in 2026. The […] October 23, 2023 Transport Red Sea Global installs Saudi Arabia’s largest EV charging network Saudi developer Red Sea Global has installed what it says is the kingdom’s largest off-grid electric vehicle charging network. The network includes more than 150 charging stations spread across phase one of the Red Sea project. The stations are strategically located to keep Red Sea Global’s initial fleet of 80 electric Lucid and Mercedes vehicles […] October 17, 2023 Transport Abu Dhabi plans centre for autonomous vehicle industry Abu Dhabi has unveiled plans to establish a centre for smart and autonomous vehicle industries which aims to add up to AED120 billion ($33 billion) to the UAE economy. Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan has endorsed the project, which seeks to generate 50,000 jobs. Sheikh Khaled said it is part […] October 11, 2023 Manufacturing PIF sets up unit to localise Saudi automotive sector Saudi Arabia’s Public Investment Fund (PIF) has launched the National Automotive and Mobility Investment Company (Tasaru Mobility Investments) to build local manufacturing and supply chain capabilities for the automotive and mobility industry in the kingdom. The new company will be responsible for strategic investments and partnerships with both local and global private sector companies. The […] October 11, 2023 Infrastructure PIF launches company to drive Saudi EV charging The Public Investment Fund (PIF) and Saudi Electricity Company (SEC) have launched a new company to deliver electric vehicle (EV) fast-charging infrastructure in Saudi Arabia. The Saudi sovereign fund will own 75 percent of the Electric Vehicle Infrastructure Company, while the kingdom’s utility provider will hold the remaining 25 percent stake. The new company plans to establish […] October 9, 2023 Opinion Manufacturing Global EV manufacturers rev up for Gulf race There is a way to go before electric vehicles overtake fossil fuel cars August 14, 2023 Posts navigation Previous 1 2 3 4 5 Next
Manufacturing Saudi and Morocco vie for lead in Mena EV race Two clear frontrunners in the global electric vehicle race have emerged in the Middle East and North Africa region. Both Saudi Arabia and Morocco have accelerated efforts to develop their EV capabilities in 2023, with a series of multi-million-dollar investments and partnership deals. The two kingdoms see the EV industry as central to achieving economic […] December 22, 2023
Renewable Energy PIF-backed Eviq plans to deploy 5,000 EV chargers Saudi Arabia has opened its first research and development facility to establish the country’s electric vehicle (EV) fast-charging infrastructure. Electric Vehicle Infrastructure Company (Eviq) – the newly launched joint venture between the Public Investment Fund (PIF) and Saudi Electricity Company – opened the facility in Riyadh. The company is on track to deploy 5,000 chargers […] December 18, 2023
Industry PIF in talks to invest $250m in Chinese EV company Saudi Arabia’s Public Investment Fund (PIF) is discussing investing $250 million in Chinese electric vehicle (EV) maker Human Horizons Group. The kingdom’s sovereign fund’s investment could potentially value the Shanghai-based company at $3 billion, Bloomberg reported, citing informed sources. An agreement is likely to be reached by the end of the year, but it could […] November 8, 2023
Industry PIF’s $550m Saudi facility to produce Pirelli tyres in 2026 Saudi Arabia’s Public Investment Fund (PIF) has signed a joint venture agreement with Pirelli of Italy to build a tyre manufacturing facility in the kingdom. The Riyadh-headquartered sovereign wealth fund will hold a 75 percent stake in the new $550 million JV, with Pirelli holding the remaining 25 percent. The Italian tyre manufacturer will provide […] October 27, 2023
Industry Work to begin in 2024 on Hyundai’s $500m Saudi car plant A joint venture between Saudi Arabia’s Public Investment Fund and Hyundai Motor Company is expected to break ground on its first vehicle manufacturing plant next year. The sovereign fund will hold a 70 percent stake in the venture, with the South Korean car giant holding the rest. Vehicle production is due to start in 2026. The […] October 23, 2023
Transport Red Sea Global installs Saudi Arabia’s largest EV charging network Saudi developer Red Sea Global has installed what it says is the kingdom’s largest off-grid electric vehicle charging network. The network includes more than 150 charging stations spread across phase one of the Red Sea project. The stations are strategically located to keep Red Sea Global’s initial fleet of 80 electric Lucid and Mercedes vehicles […] October 17, 2023
Transport Abu Dhabi plans centre for autonomous vehicle industry Abu Dhabi has unveiled plans to establish a centre for smart and autonomous vehicle industries which aims to add up to AED120 billion ($33 billion) to the UAE economy. Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan has endorsed the project, which seeks to generate 50,000 jobs. Sheikh Khaled said it is part […] October 11, 2023
Manufacturing PIF sets up unit to localise Saudi automotive sector Saudi Arabia’s Public Investment Fund (PIF) has launched the National Automotive and Mobility Investment Company (Tasaru Mobility Investments) to build local manufacturing and supply chain capabilities for the automotive and mobility industry in the kingdom. The new company will be responsible for strategic investments and partnerships with both local and global private sector companies. The […] October 11, 2023
Infrastructure PIF launches company to drive Saudi EV charging The Public Investment Fund (PIF) and Saudi Electricity Company (SEC) have launched a new company to deliver electric vehicle (EV) fast-charging infrastructure in Saudi Arabia. The Saudi sovereign fund will own 75 percent of the Electric Vehicle Infrastructure Company, while the kingdom’s utility provider will hold the remaining 25 percent stake. The new company plans to establish […] October 9, 2023
Opinion Manufacturing Global EV manufacturers rev up for Gulf race There is a way to go before electric vehicles overtake fossil fuel cars August 14, 2023
