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EV maker Rivian to invest USD 120 mn in US supplier park expansion
Construction is set to be completed in 2026
Tesla arrives in the Kingdom as EV market begins to stir
Saudi is targeting 30% EV adoption by 2030 after just 2k sales last year
Ceer signs SAR 5.5 bn agreements to localize EV components
The company aims to source over 40% of its raw materials locally
It’s Davos day
PLUS: Golden Handshake rewards voluntary retirement
Honda, Nissan, and Mitsubishi eye potential USD 58 bn merger amid rising EV competition
Honda shares climbed 3.8% on the news, and Nissan shares 1.6%
Bahri + Salic JV inaugurates a grain terminal in Yanbu
PLUS: Sirc acquires a 35% stake in Waraq
Indian firms land major infrastructure contracts in the Kingdom
VA Tech Wabag landed a UAD 317 contract to build a desalination plant in Yanbu
Syarah secures USD 60 mn in its latest Series C funding round
The funding includes a USD 20 mn venture debt facility from US-based PFG
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