Latest news with #LucidMotors
Zawya
4 days ago
- Automotive
- Zawya
Largest edition of Automechanika Riyadh underscores the Middle East's position as a global automotive hub
The event hosted over 450 exhibitors from more than 30 countries, with China, Taiwan, Hong Kong, KSA, and the UAE accounting for the top five exhibiting nations The event's knowledge-sharing platform, Automechanika Academy, gathered thought leaders from around the region while the latest industry innovations were presented across the show floor Riyadh, KSA: Automechanika Riyadh 2025, Saudi Arabia's leading trade show for the automotive aftermarket industry, concluded last month at the Riyadh International Convention and Exhibition Centre (RICEC) with a 35% year-on-year increase in attendance. The event showcased over 450 exhibitors from more than 30 countries and highlighted the Middle East's position as a global hub for the automotive industry. The domestic market represented 90% of visitors, with international markets accounting for 10% of attendees. As Saudi Arabia accelerates progress under Vision 2030, major projects such as Lucid Motors' new plant in King Abdullah Economic City (KAEC) and the launch of Ceer, Saudi's first electric vehicle brand, reflect the Kingdom's commitment to localising the automotive value chain. The wider MENA region is also contributing significantly, with Morocco targeting an annual production of one million vehicles by 2025 and the UAE strengthening its role in aftermarket services and re-exports. In his keynote address at Automechanika Riyadh, Dr Faisal Al-Kadi, CEO of Al Kadi Commerce & Industry, underscored the importance of fostering strong local and international partnerships to drive sustainable growth. This was echoed in a high-level panel discussion on 'Building the Middle East's automotive hub', which examined supply chain development, certification frameworks and the role of collaboration across sectors in supporting the region's transformation. During the event, industry voices, including Ben Stewart, Supply Chain Director, Lucid MENA and Aftab Ahmed, Chief Advisor, National Industrial Development Centre, highlighted the critical need for government and private sector cooperation to create a robust, standardised, sustainable supply chain ecosystem. Discussions highlighted the importance of certification, localisation and long-term industrial planning as key pillars for establishing trust and competitiveness in the regional market. Bilal Al Barmawi, CEO and Founder of 1st Arabia, licensee of Automechanika Riyadh, directed by Messe Frankfurt Exhibition GmbH, commented: 'Automechanika Riyadh 2025 was our largest and most successful edition to date from a visitor and exhibitor perspective, reflecting the impressive growth of the automotive aftermarket sector region-wide. The exhibitor showcase at Automechanika Riyadh 2025 increased by 34%, with the top five participating countries being China, Taiwan, Hong Kong, KSA, and UAE.' To accommodate the growing interest in Automechanika Riyadh, the exhibition space expanded by over 70%, covering 19,270 square metres across five halls. In addition, the event featured seven international pavilions that presented the latest industry solutions from Singapore, Taiwan, South Korea, China, Hong Kong, Turkey, and Thailand. Automechanika Riyadh also featured Automechanika Lovers, a programme that offers marketing benefits and services to exhibitors at all Automechanika shows worldwide. Valid until 30 September 2026, the programme supports companies in enhancing their presence at Automechanika events and includes Gold, Silver or Blue status for participants. Aly Hefny, Show Manager, Automechanika Riyadh, Messe Frankfurt Middle East, said: 'We would like to extend special thanks to the companies that participated in the Automechanika Lovers programme at Automechanika Riyadh, who undoubtedly made a significant contribution to the event's success. The programme offers many benefits, enhancing exposure for exhibitors before, during and after the event.' This year, the programme featured companies with Gold status, including Add Industry (Zhejiang) Corporation Limited, C.E.I. Costruzione Emiliana Ingranaggi S.p.A, GSP Automotive Group, WENZHOU CO. LTD, REINZ-Dichtungs-GmbH, and Sampa Otomotiv Sanayi Ve Ticaret Anonim Sirket. Automechanika Riyadh will return in 2026, where it is expected to build on this year's edition, welcoming more exhibitors and visitors. The product areas showcased at Automechanika Riyadh include Parts & Components, Electronics & Systems, Connectivity & Autonomous Driving, Accessories & Customising, Tires & Batteries, Car Wash & Care, Oils, Lubricants, & Fuels, Diagnostics & Repairs, Body & Paint, Digital Solutions & Services. About Automechanika Riyadh Automechanika Riyadh, licensed by Messe Frankfurt GmbH, will take place from 28 April – 30 April 2025 at Riyadh International Convention and Exhibition Centre. This will be the 7th edition of Automechanika in Saudi Arabia, which is the leading exhibition dedicated to the automotive aftermarket industry in the Kingdom. The dedicated exhibition is one of 14 instalments of Automechanika – the most successful and largest automotive aftermarket exhibition brand in the world. About 1st Arabia 1st Arabia Tradeshows & Conferences is a leading exhibition & conference organizer in the Kingdom of Saudi Arabia. Headquartered in Riyadh, 1st Arabia has regional offices in Jordan and is set to expand its operations in more countries regionally. 1st Arabia organizes top international trade exhibitions and conferences that provide unparalleled networking and business opportunities for companies looking to excel and grow within the Kingdom. Apart from conducting quality and high profile B2B trade fairs, country specific shows, corporate events, conferences, events management and festivals, 1st Arabia also provides a complete marketing tool and exhibition solutions to their valued clients. 1st Arabia is the only MICE organization in the Kingdom of Saudi Arabia who is a member of the International Organizations like IAEE, ICCA, MPI PCMA, SISO and, UFI.
Arab News
20-05-2025
- Automotive
- Arab News
Saudi Arabia's EV push signals long-term investment strategy: Alkhorayef
RIYADH: Saudi Arabia's investment in electric vehicles reflects how the Kingdom is shaping its future through strategic, long-term bets, according to a senior minister. Speaking during a panel discussion at the Qatar Economic Forum in Doha, Minister of Industry and Mineral Resources Bandar Alkhorayef stated that Saudi Arabia's push toward EV manufacturing demonstrates the Kingdom's commitment to shaping a modern and sustainable economy. His comments come as Saudi Arabia ramps up efforts to position itself as a regional hub for automotive manufacturing, particularly in electric vehicles. Backed by the Public Investment Fund, the Kingdom has invested in ventures such as US-based Lucid Motors, which is building a production facility in King Abdullah Economic City. As part of its broader diversification drive, Saudi Arabia aims to produce over 300,000 vehicles annually by 2030. 'Betting on EVs is also showing you how we think as a country. We are investing in the future,' he said. He added: 'Automotive is a sector that we have been waiting to attract for many years, that our vision is a great enabler that brought the sector to Saudi. We are the largest country exporting cars with no local manufacturing, and I think it's the right move.' Alkhorayef emphasized that the Kingdom's economic transformation under Vision 2030 centers on diversification, with mining and industrial development playing a key role in that shift. 'In our vision — Saudi Vision 2030 — diversification of our economy is key, and definitely mining and industry are both areas where we can see great opportunities,' he said. Discussing the Kingdom's execution capabilities, the minister said Saudi Arabia has mastered 'the art of execution,' stressing that successful implementation of plans, not just strategy, is what builds investor confidence. He highlighted mining as a strategic sector, noting that the country has significantly reformed its regulatory framework. 'We have been able to introduce, I would claim, one of the best — if not the best — mining investment laws globally… We have been able to reduce the licensing time from the global average of three to five years to six months,' Alkhorayef said. Touching on global mineral demand, he said: 'We are actually in a race with time to ensure that we have the right quantities of minerals and metals to satisfy the global need in energy transition, in automation, in technology, and in defense.' The minister pointed to the Future Minerals Forum hosted by the Kingdom as a critical platform to address such challenges, uniting governments, private sector players, and financial institutions to improve exploration, refining, and supply chain resilience. On the topic of supply chains and national resilience, Alkhorayef explained that Saudi Arabia's localization strategy goes beyond national security. 'It is really capturing a new value. Today in manufacturing, scale is becoming less important because of new technologies that are being introduced,' he said. Alkhorayef continued: 'Today in manufacturing, in mining, and in many of the sectors we intend to build in Saudi, are all built on new technologies. How can we ensure that while we are growing our economy, we are creating the right jobs for our people?' Addressing the role of governments in enabling private sector growth, Alkhorayef stressed the need for proactive governance. 'Without government really helping the private sector to capture different value, it would be very hard to see the growth in the private sector,' he said, stressing the importance of infrastructure, regulation, and digital security in encouraging investment. He concluded by highlighting the Kingdom's export achievements: 'Last year is a great demonstration of the growth we have done. 2024 was the record high export of Saudi Arabia. Non-oil export — we grew from 16 percent contribution in non-oil export to 25 percent contribution of our GDP in non-oil export. The non-oil, non-petrochemical growth of exports was 9 percent last year,' he said.
Yahoo
19-05-2025
- Automotive
- Yahoo
Nikola's hydrogen trucks hit the auction block
Nikola's hydrogen trucks are officially up for auction, one of the company's last big steps in unloading all of its assets after filing for bankruptcy in February. Auction house Gordon Brothers reached an agreement with Nikola in Delaware bankruptcy court to purchase the hydrogen trucking assets late last week. Over the weekend, Gordon Brothers published the listing and a brochure detailing everything for sale. The auction house says it has around $114 million worth of hydrogen trucks, raw material, and sub-assemblies. That includes 103 finished hydrogen fuel cell-powered trucks, along with spare batteries, tires, and other components. Gordon Brothers is also auctioning off Nikola's hydrogen storage, refueling, and testing equipment, some of which is still brand new. The hydrogen assets are hitting the market a little more than a month after EV startup Lucid Motors emerged as the surprise buyer of Nikola's Arizona manufacturing facility and headquarters. Lucid also agreed to bring around 300 Nikola employees on board as part of that transaction, in exchange for roughly $30 million in cash and non-cash considerations. Gordon Brothers will now look to auction these assets at a time when hydrogen as a fuel source has struggled to become a viable option. The technology also faces fresh headwinds. House Republicans are working to roll back financial support for hydrogen power signed into law by former President Biden as part of a larger attempt to dismantle his entire climate agenda. 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
TechCrunch
19-05-2025
- Automotive
- TechCrunch
Nikola's hydrogen trucks hit the auction block
Nikola's hydrogen trucks are officially up for auction, one of the company's last big steps in unloading all of its assets after filing for bankruptcy in February. Auction house Gordon Brothers reached an agreement with Nikola in Delaware bankruptcy court to purchase the hydrogen trucking assets late last week. Over the weekend, Gordon Brothers published the listing and a brochure detailing everything for sale. The auction house says it has around $114 million worth of hydrogen trucks, raw material, and sub-assemblies. That includes 103 finished hydrogen fuel cell-powered trucks, along with spare batteries, tires, and other components. Gordon Brothers is also auctioning off Nikola's hydrogen storage, refueling, and testing equipment, some of which is still brand new. The hydrogen assets are hitting the market a little more than a month after EV startup Lucid Motors emerged as the surprise buyer of Nikola's Arizona manufacturing facility and headquarters. Lucid also agreed to bring around 300 Nikola employees on board as part of that transaction, in exchange for roughly $30 million in cash and non-cash considerations. Gordon Brothers will now look to auction these assets at a time when hydrogen as a fuel source has struggled to become a viable option. The technology also faces fresh headwinds. House Republicans are working to roll back financial support for hydrogen power signed into law by former President Biden, as part of a larger attempt to dismantle his entire climate agenda.
Auto Car
19-05-2025
- Automotive
- Auto Car
Hyundai to build future cars in Saudi Arabia
Close Hyundai has started construction work on a new factory in Saudi Arabia that is set to supply the state with some 50,000 cars annually. It is based in the King Salman Automotive Cluster, a new automotive industry hub in the King Abdullah Economic City near Jeddah. As well as Hyundai, it currently hosts Lucid Motors (for whom the Saudi government is a key financial backer) and Saudi brand Ceer. It will produce both internal-combustion-engine and battery-electric vehicles according to local demand, and will build its first vehicle by October 2026.
