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Mid East Info
27-05-2025
- Automotive
- Mid East Info
Largest edition of Automechanika Riyadh underscores the Middle East's position as a global automotive hub - Middle East Business News and Information
Captured by Lights In Motion Automechanika Riyadh 2025 saw record attendance, achieving 35% year-on-year growth 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.
Mid East Info
29-04-2025
- Automotive
- Mid East Info
Automechanika Riyadh explores the Middle East's transformation into a global automotive hub - Middle East Business News and Information
Captured by Lights In Motion Senior stakeholders gathered at the Automechanika Academy conference to outline the positioning of the Middle East as a globally connected automotive ecosystem The session emphasised the importance of localising EV infrastructure, expanding automotive manufacturing zones, and aligning standards to attract global investment in the region's mobility industry. The seventh edition of Automechanika Riyadh features over 450 exhibitors from more than 30 countries and 19,000 industry professionals. Riyadh, KSA: As the automotive aftermarket across the Middle East experiences rapid growth and change, senior stakeholders convened at the Automechanika Riyadh 2025, Saudi Arabia's leading regional trade show for the automotive aftermarket, to outline a strategy for establishing the region as a global hub for the automotive industry. Supported by Vision 2030, Saudi Arabia is quickly emerging as a significant player in global automotive manufacturing. Major projects such as Lucid Motors' plant in King Abdullah Economic City (KAEC) and the launch of Ceer are aimed at localising the Kingdom's automotive value chain. In addition, the broader MENA region is contributing to this transformation, with Morocco raising its ambition is to achieve an annual production of one million cars by 2025, and the UAE becoming a crucial hub for aftermarket services and re-exports. During his keynote address at the Automechanika Academy conference Dr. Faisal Al-Kadi, CEO, Al-Kadi Commerce & Industry, highlighted partnerships as a key driver to business success in the Kingdom: 'In Saudi Arabia, you have to be within the fabric of the industry. The country has a vibrant local industry. It has fantastic companies that are very active in the industry across all stages. I think partnerships – both local and international – are the way forward.' This was followed by a panel discussion, 'Building the Middle East's Automotive Hub' , featuring key voices from industry, logistics, manufacturing, and policy. The panellists discussed the transformation of the aftermarket, focusing on topics such as localisation, supply chain and cluster development, and the need for harmonised certification processes. These themes are vital to enhancing trust and competitiveness in locally manufactured and remanufactured automotive parts. Ben Stewart, Supply Chain Director, Lucid MENA, said: 'One of the things we need to do is create the environment for the suppliers. We are working very hard with government bodies as well as private companies, other OEMs and other industries to create a supply chain that's sustainable.' Key trends discussed during the panel emphasised the necessity of standardised certification frameworks to facilitate regional aftermarket growth, and the government's role in enabling the growth. 'We hope to create a real deep localisation. This is our goal, and we have support from the government policy which can support the upstream and downstream localisation,' added Aftab Ahmed, Chief Advisor, National Industrial Development Center. The Automechanika Academy serves as the show's knowledge exchange hub, bringing together regional and global experts to address the future of the automotive aftermarket. Bilal Al Barmawi, CEO and Founder of 1st Arabia, licensee of Automechanika Riyadh directed by Messe Frankfurt Exhibition GmbH, said: 'The Automechanika Academy has once again delivered powerful conversations that address real-world challenges. Covering topics from industrial localisation to digital innovation, these discussions reflect our commitment to giving the aftermarket sector the tools needed to excel in an increasingly interconnected and competitive global market.' Automechanika Riyadh 2025 will feature over 450 exhibitors from more than 34 countries and an expected 19,000 visitors. The seventh edition of the event will also feature 39 exhibitors from Saudi Arabia, representing nearly 10% of the total exhibitors and highlighting the market growth within the country. Aly Hefny, Show Manager, Automechanika Riyadh, Messe Frankfurt Middle East, added: ' The increasing participation of Saudi companies reflects the Kingdom's expanding role in the regional automotive supply chain. To accommodate this demand, we have expanded the exhibition by 70% compared to last year, adding two new halls and offering an even stronger platform for local and international companies to connect, collaborate, and grow.' The product areas showcased at Automechanika Riyadh include Parts & Components, Electronics & Systems, Tires & Batteries, Oils & Lubricants, Accessories & Customising, Diagnostics & Repairs, Body & Paint, and Car Wash & Care. 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 organiser 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 organises 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 organisation in the Kingdom of Saudi Arabia who is a member of the International Organizations like IAEE, ICCA, MPI PCMA, SISO and, UFI.
Zawya
29-04-2025
- Automotive
- Zawya
Automechanika Riyadh explores the Middle East's transformation into a global automotive hub
Senior stakeholders gathered at the Automechanika Academy conference to outline the positioning of the Middle East as a globally connected automotive ecosystem The session emphasised the importance of localising EV infrastructure, expanding automotive manufacturing zones, and aligning standards to attract global investment in the region's mobility industry. The seventh edition of Automechanika Riyadh features over 450 exhibitors from more than 30 countries and 19,000 industry professionals. Riyadh, KSA: As the automotive aftermarket across the Middle East experiences rapid growth and change, senior stakeholders convened at the Automechanika Riyadh 2025, Saudi Arabia's leading regional trade show for the automotive aftermarket, to outline a strategy for establishing the region as a global hub for the automotive industry. Supported by Vision 2030, Saudi Arabia is quickly emerging as a significant player in global automotive manufacturing. Major projects such as Lucid Motors' plant in King Abdullah Economic City (KAEC) and the launch of Ceer are aimed at localising the Kingdom's automotive value chain. In addition, the broader MENA region is contributing to this transformation, with Morocco raising its ambition is to achieve an annual production of one million cars by 2025, and the UAE becoming a crucial hub for aftermarket services and re-exports. During his keynote address at the Automechanika Academy conference Dr. Faisal Al-Kadi, CEO, Al-Kadi Commerce & Industry, highlighted partnerships as a key driver to business success in the Kingdom: 'In Saudi Arabia, you have to be within the fabric of the industry. The country has a vibrant local industry. It has fantastic companies that are very active in the industry across all stages. I think partnerships – both local and international - are the way forward.' This was followed by a panel discussion, 'Building the Middle East's Automotive Hub', featuring key voices from industry, logistics, manufacturing, and policy. The panellists discussed the transformation of the aftermarket, focusing on topics such as localisation, supply chain and cluster development, and the need for harmonised certification processes. These themes are vital to enhancing trust and competitiveness in locally manufactured and remanufactured automotive parts. Ben Stewart, Supply Chain Director, Lucid MENA, said: 'One of the things we need to do is create the environment for the suppliers. We are working very hard with government bodies as well as private companies, other OEMs and other industries to create a supply chain that's sustainable.' Key trends discussed during the panel emphasised the necessity of standardised certification frameworks to facilitate regional aftermarket growth, and the government's role in enabling the growth. 'We hope to create a real deep localisation. This is our goal, and we have support from the government policy which can support the upstream and downstream localisation,' added Aftab Ahmed, Chief Advisor, National Industrial Development Center. The Automechanika Academy serves as the show's knowledge exchange hub, bringing together regional and global experts to address the future of the automotive aftermarket. Bilal Al Barmawi, CEO and Founder of 1st Arabia, licensee of Automechanika Riyadh directed by Messe Frankfurt Exhibition GmbH, said: 'The Automechanika Academy has once again delivered powerful conversations that address real-world challenges. Covering topics from industrial localisation to digital innovation, these discussions reflect our commitment to giving the aftermarket sector the tools needed to excel in an increasingly interconnected and competitive global market." Automechanika Riyadh 2025 will feature over 450 exhibitors from more than 34 countries and an expected 19,000 visitors. The seventh edition of the event will also feature 39 exhibitors from Saudi Arabia, representing nearly 10% of the total exhibitors and highlighting the market growth within the country. Aly Hefny, Show Manager, Automechanika Riyadh, Messe Frankfurt Middle East, added: ' The increasing participation of Saudi companies reflects the Kingdom's expanding role in the regional automotive supply chain. To accommodate this demand, we have expanded the exhibition by 70% compared to last year, adding two new halls and offering an even stronger platform for local and international companies to connect, collaborate, and grow.' The product areas showcased at Automechanika Riyadh include Parts & Components, Electronics & Systems, Tires & Batteries, Oils & Lubricants, Accessories & Customising, Diagnostics & Repairs, Body & Paint, and Car Wash & Care. 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 organiser 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 organises 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 organisation in the Kingdom of Saudi Arabia who is a member of the International Organizations like IAEE, ICCA, MPI PCMA, SISO and, UFI.
Yahoo
28-02-2025
- Automotive
- Yahoo
Resignation of Lucid Motors' veteran CEO spooks investor fear of new product delays
Peter Rawlinson, the former Model S chief engineer, left his post as CEO and CTO following the launch of Lucid Motors' Gravity SUV. Bank of America downgraded the stock and slashed its price target by two-thirds as a result. Investors dumped shares in Lucid Motors overboard after Peter Rawlinson stepped down as CEO following nearly six years at the helm, the second major C-suite reshuffling in four weeks. On Tuesday, the Saudi-backed electric vehicle manufacturer informed investors Rawlinson, the former chief engineer for the Tesla Model S, had resigned from both his corner office job as well as his responsibility serving as chief technology officer, a position he held since 2013. 'Now that we have successfully launched the Lucid Gravity, I have decided it is finally the right time for me to step aside from my roles including CEO, CTO, and as a member of the board of directors at Lucid,' he wrote in a resignation letter included in a regulatory filing. Standing in for Rawlinson on an interim basis, until a replacement can be found, will be operations chief Marc Winterhoff. He will have the task of more than doubling output to 20,000 vehicles from last year's 9,000 as production of the new Gravity ramps up. Lucid had just completed its search for a new chief financial officer to replace Sherry House, who left in December 2023. Late last month, the company reported it had recently appointed Taoufiq Boussaid to the position. Now they'll have to fill the chief executive job in the coming months. The departure of Rawlinson, who will remain an advisor to the company for the next two years, comes abruptly but shouldn't be considered a surprise. The carmaker is in the process of engineering a whole new platform, which is a lengthy, complicated, and time-consuming process. Once completed, it will underpin models slotting in below the luxury Air sedan and its SUV sibling, the Gravity, which compete with the Tesla Model S and X. With the Gravity now launched into the market, the break in Lucid's engineering cycle serves as a natural jumping-off point—especially for someone with 13 years at the company, nearly half of which as CEO. Bank of America analyst John Murphy warned the loss of Rawlinson is 'much more consequential than understood by the market' and could lead to future product delays and lower volumes. He downgraded Lucid to 'underperform' from 'neutral' and slashed his price target to just $1 a share from $3 previously. Lucid traded down 12% to hit $2.30, giving it a market cap of roughly $7 billion. In his resignation letter, Rawlinson said it was only very recently that he signed off on two of the three variants of its forthcoming platform that will underpin a $50,000 midsize car to be sold globally. 'These will now progress through to their development and industrialization phases,' he told staff. The first cars off this platform are scheduled to start production late next year. The company did, however, take the precaution to include it in its risk report, a kind of boilerplate legal disclaimer of all the things that could go wrong. 'Our midsize platform is still in the development and/or testing phase, and may occur later than expected or not at all,' Lucid said in its annual 10-K filing. This story was originally featured on
Yahoo
25-02-2025
- Automotive
- Yahoo
Lucid sees stock pop on Q4 results, announces CEO Peter Rawlinson will step down
EV maker Lucid Motors' (LCID) stock popped after hours following the company's better-than-expected results — and a change at the top of its management. Lucid CEO and CTO Peter Rawlinson, who has been with the company for over a decade, is stepping down in a planned transition, the company said, and will assume the role of strategic adviser to the chairman. Current COO Marc Winterhoff will be interim CEO while the company conducts a search for its next chief executive. Lucid also announced 2025 production guidance of approximately 20,000 vehicles, more than double 2024's total. Lucid shares were up 8% after hours. "Now that we have successfully launched the Lucid Gravity, I have decided it is finally the right time for me to step aside from my roles at Lucid," Rawlinson said in a statement. "I am incredibly proud of the accomplishments the Lucid team have achieved together through my tenure of these past 12 years.' Turqi Alnowaiser, chairman of the Lucid board of directors, praised Rawlinson's role at the company. "Since launching Lucid in 2016, Peter has been instrumental in the company's transition from concept to reality and in developing unique, world-leading technology that has defined the next generation of EVs." In its fourth quarter report, Lucid reported top-line revenue of $234.5 million versus Bloomberg consensus estimates of $212.4 million. Lucid reported a smaller loss than expected, with an adjusted loss per share of $0.22 versus a $0.25 loss expected, resulting in an adjusted EBITDA loss of $577.3 million vs $576 million expected. Last month, Lucid said it produced 3,386 EVs and delivered 3,099 in the fourth quarter, up from the 2,391 produced and 1,734 delivered last quarter. For the year, Lucid reported production of 9,029 units and delivered 10,241, up from the 8,428 produced and 6,001 delivered a year ago. "We saw significant momentum in 2024 with four consecutive quarters of record deliveries," said Gagan Dhingra, interim CFO, in a statement. "Additionally, we made substantial progress in improving our gross margins, managing our operating expenses while balancing strategic growth investments, and strengthening our balance sheet with the support of the Public Investment Fund (PIF)." Pras Subramanian is a reporter for Yahoo Finance. You can follow him on X and on Instagram.
