PIF announce new investment company to boost Saudi car industry｜Arab News Japan

By Carolyne Adalla On Oct 16, 2023

10 Oct 2023 07:10:50 GMT9

Arab News

RIYADH: A new investment company tasked with developing local supply chain capabilities for the automotive and mobility industry in Saudi Arabia has been announced by the Kingdom’s Public Investment Fund.

Tasaru Mobility Investments will drive investments and partnerships with both local and global private sector companies, according to a statement from PIF.

It aims to support sector growth and deliver long-term returns through the localization of manufacturing expertise and the technologies that will accelerate the development of Saudi Arabia’s electric vehicle and autonomous mobility ecosystem.

By boosting local capabilities, the company will support the Kingdom’s wider efforts to become a global leader in this industry.

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