Driving the future of automotive and mobility with TASARU
Investments in advanced mobility systems are fueling Saudi Arabia’s transportation capabilities, with TASARU Mobility Investments enabling a robust, diverse, and sustainable automotive and mobility ecosystem in Saudi Arabia.
Saudi Vision 2030 has established a comprehensive roadmap to drive economic diversification across key strategic sectors. The Public Investment Fund (PIF) is central to this vision and has been instrumental in turning these ambitious goals into reality. The Automotive and Mobility (A&M) sector in Saudi Arabia has experienced rapid growth, particularly as it shifts towards sustainable mobility. This aligns with the strategic objective of reducing reliance on internal combustion engines and increasing the adoption of fuel-efficient and electric vehicles (“EVs”).
To fully realize these objectives, PIF launched TASARU Mobility Investments (TASARU) in October of last year. Its vision is to catalyze transformative change in the Saudi Arabian automotive and mobility landscape by supporting the development of the local A&M sector, bringing in global expertise, know-how, and capabilities. It is driving investment in the future of mobility through strategic partnerships with leading entities in the industry seeking to establish operations within Saudi Arabia’s A&M sector. Being a key enabler of the sector, it supports the broader goals of economic growth and diversification of the economy which is at the heart of Vision 2030.
The Power of Three
TASARU has identified three core pillars for investment, each playing a crucial role in advancing the Kingdom’s vision. The first pillar focuses on the automotive and supplier business and aims to establish a local ecosystem of essential suppliers for Original Equipment Manufacturers (“OEMs”). This is critical to building a self-sustaining automotive industry within the country. The second pillar focuses on mobility and the future of mobility, with initiatives that enhance transportation efficiency, accessibility nationwide and reduction of traffic congestion. This entails investing in innovative solutions such as autonomous vehicles (“AVs”) to address automotive and mobility needs.
TASARU is committed to integrating cutting-edge advancements within the A&M sector. This dedication to next-generation technology marks its third investment pillar. These initiatives ensure that the Kingdom remains at the forefront of global mobility trends.
These pillars further contribute to the creation of a highly skilled local workforce, fostering high-value job creation, and building local know-how, which aligns with Saudization objectives and supports environmental sustainability.
Charge & Go
5,000 fast EV chargers will be rolled out at over 1,000 locations around Saudi Arabia by 2030.
What Was Achieved?
TASARU has already begun demonstrating its impact. This was evidenced by last year’s pivotal Joint Venture (“JV”) with several private partners in the country, including Zamil Group Real Estate Company, Abdullah Ibrahim Alkhorayef Sons Company, and Dar Al-Himmah Projects Company Limited. This resulted in creating an automotive logistics hub in King Abdullah Economic City (“KAEC”). Each stakeholder will contribute their expertise and know-how to build the hub, which will eventually expand into a broader automotive manufacturing and logistics centre designed to serve the aftermarket parts industry.
Michael Mueller
CEO, TASARU Mobility Investments
“Through our strategic investments and collaborative efforts, we aspire to revolutionize mobility in Saudi Arabia, setting a new standard for the industry.”
As part of its mobility investment pillar, TASARU invested in HOLON, a subsidiary of BENTELER Group. HOLON is set to produce the autonomous electric Mover vehicle by 2028 within the Kingdom. Accommodating 15 passengers and operating at speeds of up to 60 kilometers per hour, this investment aligns with TASARU’s vision of advancing sustainable mobility.
TASARU has also invested in Verne, which is part of the Croatian Rimac Group. Verne is developing an autonomous robo-taxi vehicle, along with a ride-hailing platform to meet the expected demand for robo-taxis. With plans to expand into Saudi Arabia and Europe, Verne’s innovative technology aligns with TASARU’s commitment to autonomous mobility.
Equally significant is TASARU’s investment in Recogni as part of TASARU’s next-generation investment pillar. TASARU’s support for Recogni will drive the development of next-generation AI inference solutions, placing Saudi Arabia at the forefront of AI innovation in the mobility sector and contributing to global advancements in intelligent transportation.
The establishment of TASARU Mobility Investments is evidence of Saudi Arabia’s futureproofing of its economy through dynamic interaction with the private sector. Through such strategic investments, TASARU will support and enhance the thriving Saudi A&M industry, increase the adoption of advanced technologies and localization of parts, as well as pursue sustainable opportunities in the sector. Hence, this reinforces Saudi Arabia’s role in advancing the global automotive sector while driving the goals of Vision 2030, simultaneously positioning the Kingdom as a leader in this industry.
