Company Insights Lucid Motors Transport Lucid Motors News Sustainability Ford to roll out electric vehicles across GCC next year US automaker Ford Motor Co. plans to launch its electric vehicles (EV) in the Middle East in 2024, according to a media report. The automaker will introduce EV models to the Gulf before moving into the wider region, Chris Noel, managing director of Ford Middle East and Africa, told Bloomberg. He stated that manufacturing limitations […] March 30, 2023 Energy PIF acquires 30% stake in Saudi district cooling firm Saudi Arabia’s Public Investment Fund has acquired a 30 percent stake in the Saudi Tabreed District Cooling Company, a provider of sustainable district cooling schemes in the kingdom. The investment supports PIF’s efforts to grow and develop the local utilities and low-carbon sectors, the sovereign wealth fund said in a statement. PIF’s $5.5bn green bond […] February 13, 2023 Exclusive Manufacturing Cars, property and superjets: Pagani plots future with PIF Horacio Pagani, founder of the supercar that bears his name, is open to further partnerships with Saudi Arabia’s Public Investment Fund as his company expands into luxury real estate and private jet design. PIF acquired a 30 percent stake in the Italian business in 2021. Pagani, who acts as its CEO and chief design officer, […] January 29, 2023 Manufacturing Olayan and Canoo sign deal for electric vehicles in Saudi Saudi Arabian general contracting company GCC Olayan has signed a deal with US electric vehicles maker Canoo for the sale, service and distribution in the kingdom of its EVs. Part of Saudi conglomerate The Olayan Group, GCC Olayan said the partnership was the first step in plans to expand beyond the initial dealership agreement, with […] January 27, 2023 Manufacturing Korea’s Hyundai plans new assembly plant in Saudi Arabia Saudi Arabia’s Ministry of Industry and Mineral Resources and South Korea’s Hyundai Motor Company have signed a memorandum of understanding (MoU) to build a completely knocked down (CKD) assembly plant in the kingdom. The deal will see the construction of a Saudi-based assembly plant with the CKD system for electric and internal combustion engine cars, […] January 3, 2023 Sustainability Saudi PIF acquires 9.5% stake in Germany’s Skyborn Renewables Saudi Arabia’s Public Investment Fund (PIF) acquired a 9.5 percent stake in Germany’s Skyborn Renewables. The investment will allow PIF to accelerate the energy transition and scale up its international clean energy ambitions by partnering with a geographically diversified offshore wind energy platform, it said in a statement. No financial details were disclosed. In October, […] December 13, 2022 Manufacturing Saudi’s Ceer spends $96m on plot for electric car factory Ceer, Saudi Arabia’s first electric vehicle brand, has spent nearly $96 million on an industrial plot at King Abdullah Economic City. In a stock market filing on Saudi’s Tadawul, developer Emaar Economic City said a land sale deal had been signed and KAEC’s Industrial Valley would host a “specialised factory” to manufacture electric vehicles. Ceer […] November 29, 2022 Exclusive Manufacturing UAE’s automotive giant OWS to establish Saudi facility in Q1 2023 OWS Automotive, the global automotive service provider with a major presence in the UAE, has signed an agreement with King Abdullah Economic City (KAEC) in Saudi Arabia to establish its head office and main facility there. The agreement will see the two groups provide vehicle remanufacturing, assembly, upgrade and reset facilities within the city, ultimately creating […] November 24, 2022 Banking and Finance Saudi Arabia’s PIF to invest additional $915m in Lucid Lucid Group Inc. has entered into an agreement with its majority stockholder, and a unit of the Saudi sovereign wealth fund, the Public Investment Fund (PIF), for an additional investment worth $915 million, the American electric vehicle company said in a statement. PIF affiliate Ayar Third Investment Company (Ayar) will purchase shares in one or more […] November 9, 2022 Analysis Economy 70 multinationals secure Riyadh licence after Saudi HQ ruling A total of 70 international companies have so far been issued licences to relocate their regional headquarters to the Saudi capital Riyadh as part of a major push to attract more overseas investment. The updated figure, revealed in a new report by Saudi Arabia’s Ministry of Investment (Misa), represents a significant increase compared to a […] October 27, 2022 Posts navigation Previous 1 … 3 4 5 6 Next
Sustainability Ford to roll out electric vehicles across GCC next year US automaker Ford Motor Co. plans to launch its electric vehicles (EV) in the Middle East in 2024, according to a media report. The automaker will introduce EV models to the Gulf before moving into the wider region, Chris Noel, managing director of Ford Middle East and Africa, told Bloomberg. He stated that manufacturing limitations […] March 30, 2023
Energy PIF acquires 30% stake in Saudi district cooling firm Saudi Arabia’s Public Investment Fund has acquired a 30 percent stake in the Saudi Tabreed District Cooling Company, a provider of sustainable district cooling schemes in the kingdom. The investment supports PIF’s efforts to grow and develop the local utilities and low-carbon sectors, the sovereign wealth fund said in a statement. PIF’s $5.5bn green bond […] February 13, 2023
Exclusive Manufacturing Cars, property and superjets: Pagani plots future with PIF Horacio Pagani, founder of the supercar that bears his name, is open to further partnerships with Saudi Arabia’s Public Investment Fund as his company expands into luxury real estate and private jet design. PIF acquired a 30 percent stake in the Italian business in 2021. Pagani, who acts as its CEO and chief design officer, […] January 29, 2023
Manufacturing Olayan and Canoo sign deal for electric vehicles in Saudi Saudi Arabian general contracting company GCC Olayan has signed a deal with US electric vehicles maker Canoo for the sale, service and distribution in the kingdom of its EVs. Part of Saudi conglomerate The Olayan Group, GCC Olayan said the partnership was the first step in plans to expand beyond the initial dealership agreement, with […] January 27, 2023
Manufacturing Korea’s Hyundai plans new assembly plant in Saudi Arabia Saudi Arabia’s Ministry of Industry and Mineral Resources and South Korea’s Hyundai Motor Company have signed a memorandum of understanding (MoU) to build a completely knocked down (CKD) assembly plant in the kingdom. The deal will see the construction of a Saudi-based assembly plant with the CKD system for electric and internal combustion engine cars, […] January 3, 2023
Sustainability Saudi PIF acquires 9.5% stake in Germany’s Skyborn Renewables Saudi Arabia’s Public Investment Fund (PIF) acquired a 9.5 percent stake in Germany’s Skyborn Renewables. The investment will allow PIF to accelerate the energy transition and scale up its international clean energy ambitions by partnering with a geographically diversified offshore wind energy platform, it said in a statement. No financial details were disclosed. In October, […] December 13, 2022
Manufacturing Saudi’s Ceer spends $96m on plot for electric car factory Ceer, Saudi Arabia’s first electric vehicle brand, has spent nearly $96 million on an industrial plot at King Abdullah Economic City. In a stock market filing on Saudi’s Tadawul, developer Emaar Economic City said a land sale deal had been signed and KAEC’s Industrial Valley would host a “specialised factory” to manufacture electric vehicles. Ceer […] November 29, 2022
Exclusive Manufacturing UAE’s automotive giant OWS to establish Saudi facility in Q1 2023 OWS Automotive, the global automotive service provider with a major presence in the UAE, has signed an agreement with King Abdullah Economic City (KAEC) in Saudi Arabia to establish its head office and main facility there. The agreement will see the two groups provide vehicle remanufacturing, assembly, upgrade and reset facilities within the city, ultimately creating […] November 24, 2022
Banking and Finance Saudi Arabia’s PIF to invest additional $915m in Lucid Lucid Group Inc. has entered into an agreement with its majority stockholder, and a unit of the Saudi sovereign wealth fund, the Public Investment Fund (PIF), for an additional investment worth $915 million, the American electric vehicle company said in a statement. PIF affiliate Ayar Third Investment Company (Ayar) will purchase shares in one or more […] November 9, 2022
Analysis Economy 70 multinationals secure Riyadh licence after Saudi HQ ruling A total of 70 international companies have so far been issued licences to relocate their regional headquarters to the Saudi capital Riyadh as part of a major push to attract more overseas investment. The updated figure, revealed in a new report by Saudi Arabia’s Ministry of Investment (Misa), represents a significant increase compared to a […] October 27, 2022
