Latest news with #LatifJameel
Yahoo
6 days ago
- Business
- Yahoo
Joby Aviation Stock Jumps on Agreement to Explore $1B Saudi Arabia Launch
Joby Aviation shares rose Tuesday after announcing a partnership with Saudi Arabian conglomerate Abdul Latif Jameel. The companies will "explore distribution and sales collaborations" and the potential launch of Joby's air taxi services in Saudi Arabia. Joby said it still expects to carry passengers in Dubai sometime in of Joby Aviation (JOBY) jumped on Tuesday after the electric air taxi maker announced a deal with Saudi Arabian investment conglomerate Abdul Latif Jameel. The companies have signed a memorandum of understanding to "explore opportunities to establish a distribution agreement in Saudi Arabia for Joby's electric aircraft," per a Tuesday press release. The sides laid out potential targets of 200 aircraft and other services valued at about $1 billion to be delivered in the coming years. They also said they see "potential revenue opportunities across the Middle East" in the long term. The partnerships will begin in Saudi Arabia to "work together to explore distribution and sales collaborations, the launch of local air taxi services, including the establishment of aftermarket services such as MRO (Maintenance, Repair, and Overhaul), and pilot training." Joby continues to expect its first passengers will be carried in Dubai in 2026. Abdul Latif Jameel has also participated in previous investing rounds for Joby, the company said. Shares of Joby were up 9% in Tuesday trading after recently pulling back from a rally sparked by the announcement of a $250 million investment from Toyota Motor (TM). Read the original article on Investopedia
Yahoo
6 days ago
- Business
- Yahoo
Joby Aviation Stock Jumps on Agreement to Explore $1B Saudi Arabia Launch
Joby Aviation shares rose Tuesday after announcing a partnership with Saudi Arabian conglomerate Abdul Latif Jameel. The companies will "explore distribution and sales collaborations" and the potential launch of Joby's air taxi services in Saudi Arabia. Joby said it still expects to carry passengers in Dubai sometime in of Joby Aviation (JOBY) jumped on Tuesday after the electric air taxi maker announced a deal with Saudi Arabian investment conglomerate Abdul Latif Jameel. The companies have signed a memorandum of understanding to "explore opportunities to establish a distribution agreement in Saudi Arabia for Joby's electric aircraft," per a Tuesday press release. The sides laid out potential targets of 200 aircraft and other services valued at about $1 billion to be delivered in the coming years. They also said they see "potential revenue opportunities across the Middle East" in the long term. The partnerships will begin in Saudi Arabia to "work together to explore distribution and sales collaborations, the launch of local air taxi services, including the establishment of aftermarket services such as MRO (Maintenance, Repair, and Overhaul), and pilot training." Joby continues to expect its first passengers will be carried in Dubai in 2026. Abdul Latif Jameel has also participated in previous investing rounds for Joby, the company said. Shares of Joby were up 9% in Tuesday trading after recently pulling back from a rally sparked by the announcement of a $250 million investment from Toyota Motor (TM). Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Arab News
08-04-2025
- Automotive
- Arab News
Jameel Motors enters Polish market with GAC distribution deal
Jameel Motors, a provider of mobility solutions and partner of choice to top automotive brands, and GAC, one of China's largest automakers with a presence in 76 countries, have signed an agreement to distribute GAC's new energy vehicles in Poland. This market entry creates new opportunities for Polish drivers, providing them with access to innovative and technologically advanced vehicles. Poland is one of the fastest-growing automotive markets in Europe, with consumers increasingly interested in electric vehicles. In 2024, the number of passenger car registrations in Poland increased by 19 percent, the second highest increase in Europe. Jameel Motors will initially focus on the distribution of Aion and Hyptec, two of GAC's main passenger car brands. Aion is GAC's smart new energy vehicle brand and Hyptec is a high-end luxury brand, built on Aion's first-class technology stack. Vehicles will be available for purchase in Q3 2025. Jasmmine Wong, chief executive — mobility for Abdul Latif Jameel, said: 'We are proud to introduce GAC's innovative new energy vehicles to Polish drivers and meet the increasing demand for electric vehicles. GAC's commitment to safety, quality, advanced technology, and sustainability aligns perfectly with our mission to provide cutting-edge mobility solutions. By bringing these vehicles to Poland, we are offering customers an exciting opportunity to experience the future of automotive innovation. This is a significant milestone in Jameel Motors' international expansion.' Thomas Schemera, global chief operating officer of GAC International, said: 'GAC International is committed to a full localization strategy — integrating into Poland, serving Poland, and contributing to Poland — to enhance mobility for Polish users. We are thrilled to collaborate with Jameel Motors, a trusted and esteemed partner known for its deep market expertise and dedication to excellence. Moving forward, we will introduce more new energy vehicle models to meet market demand. By deepening cooperation and strengthening brand influence, we look forward to achieving new milestones in Poland together.' Jameel Motors' experienced team in Poland will be led by Marcin Slomkowski, a manager with 25 years of experience in the automotive industry. He is an expert in distribution and retail, having worked with the world's largest automotive brands, as well as being a member of the Dealer Council in Poland. Słomkowski said: 'Our goal is to provide Polish drivers with safe, reliable, innovative, and competitively priced vehicles, while supporting the country's green mobility transition. GAC's vehicles stand out with their modern design, advanced driver assistance systems, high-quality materials, top-tier safety features, luxurious finish, and an extended driving range of up to 520 km per charge. We are confident that they will meet and exceed our customers' expectations.' Jameel Motors plans to develop a nationwide dealer network to ensure convenient access to GAC vehicles and comprehensive service support. Additionally, Jameel Motors will offer attractive financing options, enabling customers to conveniently purchase and lease GAC vehicles. The offer will also include comprehensive fleet solutions for businesses, providing flexible financing options, servicing, and fleet management support. Customers will initially be able to test and purchase three fully electric GAC models: Aion V, Aion Y Plus, and Hyptec HT. With the first models arriving in Polish showrooms in Q3 this year, Jameel Motors plans a dynamic expansion of its sales and service network to ensure the highest quality of customer support. Jameel Motors represents some of the world's most recognized commercial and passenger vehicle brands and has operations in more than 10 countries across the Middle East, Africa, Europe, Asia and Australia.
