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Wednesday, December 6, 2023

CEO of TASARU: Talks with Sir, Lucid to Explore Opportunities

Michael Mueller, CEO of  ” TASARU Mobility Investments, ↗” stated that Saudi Arabia currently has a significant opportunity to play a leading role with ‘Sir’ and ‘Lucid’  in the broader mobility sector.

Interview Michael Mueller, CEO of  ” TASARU “

In an “Al Arabiya Business ↗” interview, Mueller mentioned that autonomous driving, a new technology, is likely to draw global firms to Saudi Arabia.

The Public Investment Fund recently launched “TASARU Mobility Investments,” aimed at developing local automotive and mobility sector supply chains in the Kingdom.

This company’s first deal involved a joint venture with Al Zamil Real Estate Group, Abdullah Ibrahim Al Kharif Sons Company, and Dar Al Humma Projects Limited to develop a logistics center in King Abdullah Economic City for the automotive parts industry.

Existing Technologies, Future Opportunities

Mueller emphasized Saudi Arabia’s technology and auto businesses, highlighting the potential to merge these with private car manufacturing expertise ↗ for new opportunities.

Furthermore, he pointed out Saudi Arabia’s focus on autonomous driving.

subsequently,  “TASARU” will be a bridge to attract international companies to establish businesses in the Kingdom.

Additionally, this strategy aligns with the country’s broader economic goals.

Daily Discussions with “Sir” and “Lucid”

There are ongoing daily discussions with “Sir” and “Lucid” ↗ to explore available opportunities. The current focus on providing supply-side support.

Mueller stressed the importance of creating a supportive environment to ensure smooth operations and provide production facilities for spare parts.

He pointed out the interest of “Careem” and “Lucid” in bringing future technologies to Saudi Arabia, stating that they are still in the early stages of technology development.

Strategic Presence in Middle East

“TASARU” primarily engages with firms committed to the Middle East ↗, particularly the appealing Saudi market. Consequently, Mueller noted that both the Kingdom and “TASARU” find all aspects of mobility and next-gen mobility attractive.

Therefore, this move offers Saudi Arabia an opportunity to lead in these technologies. Additionally, their focus encompasses various innovative mobility solutions.

Beyond Autonomous Driving

Mueller emphasized the importance of  the entire industry ↗ surrounding it, including necessary IT solutions and infrastructure. In this scenario, he believes Saudi Arabia can make a significant difference compared to other countries.

He mentioned that “TASARU” was recently launched but has already completed one deal, expecting more in the future.

Related Topics :

PIF Establishes ‘TASARU’ for Mobility’s Investments ↗

Saudi NEOM Investment Fund Acquires 6% stake in Technogym ↗

Enhancing Urban Mobility in Al Madinah ↗

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Michael Maren
Michael Maren
Former marine biologist who likes to spend as much time in the tropics as possible, due to a horrible time I once had in Alaska. Brrrr.

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