PIF Establishes ‘TASARU’ for Mobility’s Investments
The Public Investment Fund (PIF) has introduced the National Automotive and Mobility Investment Company, known as “Tasaru Mobility Investments” (TASARU), aimed at catalyzing the growth of Saudi Arabia’s automotive and mobility industry.
The Mobility Investments is set to be a key player in fostering the development of local supply chain capabilities. The investment company will strategically collaborate with both local and global sector entities.
Vision of TASARU Mobility Investments
PIF’s establishment of TASARU Mobility Investments aligns with its overarching strategy to expand Saudi Arabia’s automotive capabilities . The company aims to enhance the end-to-end ecosystem for Saudi Arabia’s electric vehicle and autonomous mobility industries.
Leadership and Expertise
Michael Muller, a seasoned automotive industry professional with over 25 years of experience, has been appointed as the CEO of TASARU Mobility Investments. Muller’s extensive background includes senior management positions at renowned companies such as Porsche AG and Volkswagen Group. With his leadership, TASARU is well-equipped to drive innovation, forge strategic alliances, and spearhead the growth of the automotive and mobility industry in Saudi Arabia.
Cooperative projects
TASARU Mobility Investments has submitted a joint venture with Zamil Real Estate Group, Abdullah Ibrahim Al Kharif and Dar Al Hamah Projects Co., Ltd. This joint venture targets to establish an automotive logistics centre in King Abdullah Economic City (KAEC), dedicated to serving the aftermarket spare parts industry.
Localizing Manufacturing Expertise
One of the primary objectives of TASARU Mobility Investments is to localize manufacturing expertise within the automotive and mobility industry.
TASARU’s strategic investments will focus on developing local supply chains and manufacturing capabilities, ensuring that Saudi Arabia becomes a global hub for automotive production.
This localization effort will contribute to job creation, skill development, and the overall growth of the Saudi economy.
Driving Electric Vehicle Adoption
As part of its commitment to the future of mobility, TASARU Mobility Investments is dedicated to accelerating the transition to electric vehicles (EVs) in Saudi Arabia. The company recognizes the importance of sustainable transportation solutions in reducing carbon emissions and achieving environmental targets.
Through its investments and partnerships, TASARU aims to promote the adoption of EVs by providing the necessary infrastructure, incentives, and support systems.
The creation of TASARU Mobility Investments marks a milestone in Saudi Arabia’s journey towards becoming a global powerhouse in the automotive industry and mobility.
Saudi Arabia paves the way for the future of electric vehicles, self-mobility and economic prosperity.
TASARU Mobility Investments orients the country towards a sustainable, technology-based and globally competitive automotive and mobility ecosystem.
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