PIF’s TASARU inks 3 deals to propel Saudi Arabia’s mobility sector into future
TASARU Mobility, a subsidiary of Saudi Arabia's Public Investment Fund (PIF), has signed three strategic deals aimed at advancing the Kingdom's mobility sector.
These agreements focus on introducing autonomous vehicle technology, a move that aligns with Saudi Arabia's vision for the future of transportation
In a significant move, TASARU invested outside of Saudi Arabia for the first time by signing a contract with Croatia's P3 to bring their robo-taxi technology to the Kingdom. The deal with P3, according to TASARU CEO Michael Mueller, supports Saudi Arabia's ambitions to become a leader in this industry as part of its Vision 2030.
Furthermore, TASARU has secured a strategic stake in Holon, part of the Benteler Group, to support the production of an electrified, autonomous shuttle, with a prototype showcased at the PIF forum. The company aims to start localized production of this technology in the Kingdom by 2028.
The third pillar of TASARU's investment strategy involves future technology, where they have agreed to invest in American tech company Recogni Inc., which specializes in AI and energy-efficient chips for autonomous vehicles. Recogni's innovative AI computing product, Recogni Scorpio, is anticipated to revolutionize AI capabilities in autonomous mobility.
These three investments indicate TASARU's efforts to address transportation challenges and foster economic diversification, job creation, and sustainable enhancements within the Kingdom through the development of a strong automotive and mobility sector.
In a significant move, TASARU invested outside of Saudi Arabia for the first time by signing a contract with Croatia's P3 to bring their robo-taxi technology to the Kingdom. The deal with P3, according to TASARU CEO Michael Mueller, supports Saudi Arabia's ambitions to become a leader in this industry as part of its Vision 2030.
Furthermore, TASARU has secured a strategic stake in Holon, part of the Benteler Group, to support the production of an electrified, autonomous shuttle, with a prototype showcased at the PIF forum. The company aims to start localized production of this technology in the Kingdom by 2028.
The third pillar of TASARU's investment strategy involves future technology, where they have agreed to invest in American tech company Recogni Inc., which specializes in AI and energy-efficient chips for autonomous vehicles. Recogni's innovative AI computing product, Recogni Scorpio, is anticipated to revolutionize AI capabilities in autonomous mobility.
These three investments indicate TASARU's efforts to address transportation challenges and foster economic diversification, job creation, and sustainable enhancements within the Kingdom through the development of a strong automotive and mobility sector.
