Company Insights Abdul Latif Jameel Finance Latest Abdul Latif Jameel DevelopmentsAI Insights Abdul Latif Jameel has been strengthening its position in the electric vehicle market. Earlier this month, ALJ committed to a $220 million investment in Greaves Electric Mobility, an Indian manufacturer of two and three-wheeled electric vehicles. The deal will see ALJ take a 35.8 percent stake in the firm, marking it as the second-largest shareholder and demonstrating its interest in the expanding Indian EV sector2. ALJ is also invested in American electric truck maker Rivian, where it holds a 13 percent stake. Rivian is backed by key investors including Amazon1. ALJ's activities reflect growing Saudi interest in electric vehicles, aligning with state-led initiatives like the construction of Lucid Motors' electric vehicle factory in King Abdullah Economic City3. Jameel Motors, part of ALJ, has partnered with China's Farizon Auto to distribute electric commercial vehicles in the UK. This distribution agreement is part of a larger strategy and spans 11 countries5. The collaboration will support the UK's shift towards zero-emission transportation4. Abdul Latif Jameel Overview Abdul Latif Jameel is a Saudi Arabian family conglomerate comprising of diversified businesses across the Middle East, North Africa and Turkey. It started as a small trading business in 1945 and its businesses now span a range of sectors, from energy and engineering, to hospitals and healthcare. Subsidiary companies include Abdul Latif Jameel United Finance Company, Jameel Environmental Services, Jameel Health and Abdul Latif Jameel Properties. In 1955 Abdul Latif Jameel started its Toyota distributorship business. Jameel Motors is now a global automotive business offering end-to-end services to commercial and retail clients across nine countries. In December 2024 Jameel Motors signed an agreement with Chinese manufacturer Farizon Auto to distribute electric commercial vehicles across 11 countries including the UK. In 2015 Abdul Latif Jameel bought Spanish renewable energy business Fotowatio Renewable Ventures (FRV). Since then it has expanded its renewables presence across Europe. Abdul Latif Jameel also supports local communities through its charities including Bab Rizq Jameel, which helps to support promising young talent and Art Jameel, which aims to foster a thriving arts scene in the kingdom. Abdul Latif Jameel News Exclusive Transport Tesla to enter Saudi Arabia within months Elon Musk’s Tesla is set to launch in Saudi Arabia this quarter, marking its entry into one of the world’s largest oil-producing nations as it continues expanding across the Gulf, sources familiar with the plans told AGBI. The US electric vehicle maker will open sales through pop-up stores and establish a showroom and service centre, […] January 16, 2025 Manufacturing PIF-backed EV maker Lucid beats 2024 delivery estimates Electric vehicle maker Lucid beat expectations for deliveries in the fourth quarter of 2024. The company delivered 3,099 EVs in the fourth quarter of 2024, above the estimated 2,637, according to analysts at Visible Alpha. Production rose to 3,386 vehicles in the reported quarter, surpassing estimates of 2,904 units. In total, the company delivered 10,241 […] January 7, 2025 Transport Saudi Arabia’s Jameel Motors to sell electric vehicles in UK Saudi Arabian mobility provider Jameel Motors has signed an agreement with a Chinese manufacturer to distribute electric commercial vehicles in the UK. Farizon Auto, which is based in Zhejiang, manufactures zero-emission vehicles, including trucks, light commercial vehicles (LCVs) and buses. The deal between Jameel Motors, owned by Saudi Arabia’s Abdul Latif Jameel Group, and Farizon […] December 12, 2024 Manufacturing Lucid reports higher revenue but steeper losses Saudi-backed US luxury electric vehicle maker Lucid reported a larger net loss than last year in the third quarter, but said revenue rose 45 percent, slightly ahead of Wall Street expectations. The company’s losses of $992.5 million in Q3 compared with $630.9 million in 2023. Revenue reached $200 million, narrowly beating estimates of $198 million. Lucid […] November 8, 2024 Mining Saudi’s Almar Water explores lithium venture in Chile Almar Water Solutions, a water infrastructure developer and part of Saudi Arabian company Abdul Latif Jameel Energy, plans to partner with Chile’s state-backed Codelco in the Maricunga lithium mining project. The Spain-based company aims to leverage its technology to extract battery-metal lithium, Reuters reported, quoting CEO Carlos Cosin. Chile is the world’s second-largest lithium producer […] June 26, 2024 Health Training and tech to tackle healthcare staff shortage Technology and training combined can aid the impending recruitment crisis in UAE healthcare, experts say. Globally there will be an estimated shortfall of 10 million workers in the industry by 2030, primarily in low and middle income countries, according to the World Economic Forum. The UAE has not been spared. Research from Colliers showed there […] February 1, 2024 Energy Saudi-backed clean energy firm announces push into Europe Fotowatio Renewable Ventures, part of Saudi-based Abdul Latif Jameel Energy, has announced the commissioning of its latest solar farm in Spain as part of a major push into Europe. The San Serván 400 project, which consists of three 50 megawatts farms, will provide over 100,000 homes with clean energy in the Extremadura region in the west […] March 20, 2023 Healthtech provider targets early cancer detection across Mena Abdul Latif Jameel Health is planning to expand throughout the Middle East and Africa, its CEO Akram Bouchenaki has told AGBI. The multinational company – the healthcare business of Saudi family conglomerate Abdul Latif Jameel – is looking at new locations and tech innovations as part of its ambition to accelerate the region’s access to […] January 6, 2023 EXCLUSIVE Energy Britain ‘just scratching the surface’ of Saudi trade potential More big ticket Saudi investments are likely in the UK as the two countries seek closer clean energy collaboration to feed into their net zero ambitions. The announcement by Saudi Arabia’s Alfanar Group that it will invest £1 billion in a sustainable aviation fuel project on Teesside in the north of the UK could act […] October 12, 2022 Analysis Manufacturing Powering up electric vehicles in Saudi Electric vehicles (EVs) are a rare sight on the streets of Riyadh or Jeddah in Saudi Arabia. This is partly due to a lack of charging infrastructure but mainly because commercial sales have yet to start – the only EVs in evidence are ones that individuals have privately imported. “You see the odd Tesla or […] June 15, 2022 Posts navigation 1 2 Next
Exclusive Transport Tesla to enter Saudi Arabia within months Elon Musk’s Tesla is set to launch in Saudi Arabia this quarter, marking its entry into one of the world’s largest oil-producing nations as it continues expanding across the Gulf, sources familiar with the plans told AGBI. The US electric vehicle maker will open sales through pop-up stores and establish a showroom and service centre, […] January 16, 2025
Manufacturing PIF-backed EV maker Lucid beats 2024 delivery estimates Electric vehicle maker Lucid beat expectations for deliveries in the fourth quarter of 2024. The company delivered 3,099 EVs in the fourth quarter of 2024, above the estimated 2,637, according to analysts at Visible Alpha. Production rose to 3,386 vehicles in the reported quarter, surpassing estimates of 2,904 units. In total, the company delivered 10,241 […] January 7, 2025
Transport Saudi Arabia’s Jameel Motors to sell electric vehicles in UK Saudi Arabian mobility provider Jameel Motors has signed an agreement with a Chinese manufacturer to distribute electric commercial vehicles in the UK. Farizon Auto, which is based in Zhejiang, manufactures zero-emission vehicles, including trucks, light commercial vehicles (LCVs) and buses. The deal between Jameel Motors, owned by Saudi Arabia’s Abdul Latif Jameel Group, and Farizon […] December 12, 2024
Manufacturing Lucid reports higher revenue but steeper losses Saudi-backed US luxury electric vehicle maker Lucid reported a larger net loss than last year in the third quarter, but said revenue rose 45 percent, slightly ahead of Wall Street expectations. The company’s losses of $992.5 million in Q3 compared with $630.9 million in 2023. Revenue reached $200 million, narrowly beating estimates of $198 million. Lucid […] November 8, 2024
Mining Saudi’s Almar Water explores lithium venture in Chile Almar Water Solutions, a water infrastructure developer and part of Saudi Arabian company Abdul Latif Jameel Energy, plans to partner with Chile’s state-backed Codelco in the Maricunga lithium mining project. The Spain-based company aims to leverage its technology to extract battery-metal lithium, Reuters reported, quoting CEO Carlos Cosin. Chile is the world’s second-largest lithium producer […] June 26, 2024
Health Training and tech to tackle healthcare staff shortage Technology and training combined can aid the impending recruitment crisis in UAE healthcare, experts say. Globally there will be an estimated shortfall of 10 million workers in the industry by 2030, primarily in low and middle income countries, according to the World Economic Forum. The UAE has not been spared. Research from Colliers showed there […] February 1, 2024
Energy Saudi-backed clean energy firm announces push into Europe Fotowatio Renewable Ventures, part of Saudi-based Abdul Latif Jameel Energy, has announced the commissioning of its latest solar farm in Spain as part of a major push into Europe. The San Serván 400 project, which consists of three 50 megawatts farms, will provide over 100,000 homes with clean energy in the Extremadura region in the west […] March 20, 2023
Healthtech provider targets early cancer detection across Mena Abdul Latif Jameel Health is planning to expand throughout the Middle East and Africa, its CEO Akram Bouchenaki has told AGBI. The multinational company – the healthcare business of Saudi family conglomerate Abdul Latif Jameel – is looking at new locations and tech innovations as part of its ambition to accelerate the region’s access to […] January 6, 2023
EXCLUSIVE Energy Britain ‘just scratching the surface’ of Saudi trade potential More big ticket Saudi investments are likely in the UK as the two countries seek closer clean energy collaboration to feed into their net zero ambitions. The announcement by Saudi Arabia’s Alfanar Group that it will invest £1 billion in a sustainable aviation fuel project on Teesside in the north of the UK could act […] October 12, 2022
Analysis Manufacturing Powering up electric vehicles in Saudi Electric vehicles (EVs) are a rare sight on the streets of Riyadh or Jeddah in Saudi Arabia. This is partly due to a lack of charging infrastructure but mainly because commercial sales have yet to start – the only EVs in evidence are ones that individuals have privately imported. “You see the odd Tesla or […] June 15, 2022
