Company Insights Lucid Motors Transport Lucid Motors News 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 raises stake in Aston Martin to 20.5% Saudi Arabia’s Public Investment Fund (PIF) has increased its stake in Aston Martin to 20.5 percent, according to a regulatory filing on the London Stock Exchange. The fund’s shareholding went up by 2.6 percentage points from 17.9 percent through Lucid Group’s holding, placing PIF ahead of Geely chairman and Chinese entrepreneur Shufu Li on Aston […] November 9, 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 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 Industry Lucid opens first global EV factory in Saudi Arabia Californian electric vehicle (EV) maker Lucid Group has opened its first international manufacturing plant in the newly-launched King Abdullah Economic City (KAEC) special economic zone. The Economic Cities and Special Zones Authority last week issued Lucid a permit to operate a manufacturing unit at KAEC in Jeddah. The US-based EV maker, which is backed by […] September 28, 2023 Manufacturing Lucid gets permit to operate in new Saudi economic zone Saudi Arabia’s Economic Cities and Special Zones Authority has issued US electric vehicle maker Lucid Group a permit to operate a manufacturing unit at the newly-launched King Abdullah Economic City (KAEC) special economic zone. “This marks a successful kickoff for the new SEZs launched earlier this year, showcasing a promising avenue for innovation and growth,” […] September 22, 2023 Posts navigation Previous 1 2 3 … 6 Next
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 raises stake in Aston Martin to 20.5% Saudi Arabia’s Public Investment Fund (PIF) has increased its stake in Aston Martin to 20.5 percent, according to a regulatory filing on the London Stock Exchange. The fund’s shareholding went up by 2.6 percentage points from 17.9 percent through Lucid Group’s holding, placing PIF ahead of Geely chairman and Chinese entrepreneur Shufu Li on Aston […] November 9, 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
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
Industry Lucid opens first global EV factory in Saudi Arabia Californian electric vehicle (EV) maker Lucid Group has opened its first international manufacturing plant in the newly-launched King Abdullah Economic City (KAEC) special economic zone. The Economic Cities and Special Zones Authority last week issued Lucid a permit to operate a manufacturing unit at KAEC in Jeddah. The US-based EV maker, which is backed by […] September 28, 2023
Manufacturing Lucid gets permit to operate in new Saudi economic zone Saudi Arabia’s Economic Cities and Special Zones Authority has issued US electric vehicle maker Lucid Group a permit to operate a manufacturing unit at the newly-launched King Abdullah Economic City (KAEC) special economic zone. “This marks a successful kickoff for the new SEZs launched earlier this year, showcasing a promising avenue for innovation and growth,” […] September 22, 2023
