RIYADH: American electric vehicle startup Canoo signed an agreement with Saudi Arabia’s General Contracting Co. Olayan to sell, service and distribute its cars in the Kingdom.
This collaboration falls in line with Saudi Arabia’s Vision 2030 strategy to adopt electric vehicles and sustainable mobility solutions.
In addition to fleet solutions, both companies plan to create a joint venture to initiate a digital vehicle ecosystem for service maintenance repair, local assembly and ultimately manufacturing, according to a recent press release.
“We recognize that there is a growing demand for sustainable mobility solutions in Saudi Arabia, partly driven by the Kingdom’s launch of the Saudi Green Initiative and its pledge to achieve net zero by 2060,” said CEO of Olayan Saudi Holding Co. Uwaidh Al-Harethi.
“With that in mind, we are pleased to sign the product and service distribution agreement with Canoo and are proud to be the exclusive distributor of its electric vehicles in our market,” he added.
GCC Olayan, a prominent multi-national subsidiary of OSHCO, has been providing leading brands in the Kingdom for more than 75 years.
"Canoo vehicles are built on the company’s proprietary multi-purpose platform architecture that integrates all high-tech components such as the motors, battery module and other critical driving components,” stated the press release.
The company said the vehicles will offer more usable interior space, better driver ergonomics and improved road visibility.
Its unique design will also enable the company to localize the offering, as well as provide for a scalable local manufacturing approach, revealed the press release.
Al-Harethi noted, “the new partnership will combine GCC Olayan’s over 75 years of experience in the automotive and adjacent sectors with Canoo’s innovative electric vehicle technology to cater to this need in the market and contribute to global efforts to tackle carbon emissions as well as to Saudi Vision 2030’s sustainability goals.