The partnership will concentrate on the development and manufacturing of electric vehicles, enhancing industry capabilities BANGKOK , Oct. 5, 2024 /PRNewswire/ -- UNEX of the Netherlands , a global leader in the research and development of electric vehicles (EVs), and Siam Racing Automobiles (SRA) of Thailand , a world-class automotive design and engineering firm, have announced that their joint venture, SAUNEX, has entered into a strategic cooperation agreement with Saudi Arabia International Industrial Village (SIIVC). The alliance will establish a production facility for EVs in Saudi Arabia , aiming to extend their market reach across the Middle East , North Africa , and Southern Europe .
Chatchaval Jiaravanon, a member of the family that controls CP Group, addressed the audience at the signing ceremony. He highlighted the importance of automotive manufacturing as a benchmark of a nation's industrial capabilities. Reflecting on CP Group's past collaboration with China's SAIC to set up a production facility for MG sports cars in Thailand , he noted that the success of automotive ventures relies critically on exemplary technology and leadership.
The partnership between SAUNEX and SIIVC is aligned with Saudi Arabia's Vision 2030 strategic initiative, emphasizing sustainable collaboration in the development, production, and marketing of EVs. The goal is to drive significant progress in Saudi Arabia's EV sector and position SAUNEX as a beacon of successful international coopera.
