Saudi Arabia’s Public Investment Fund (PIF) has introduced Tasaru Mobility Investments (TMI), a new investment company aimed at enhancing the local supply chain capabilities in the automotive and mobility sector. TMI will focus on forging partnerships and investments with both local and global private sector firms to advance Saudi Arabia’s electric vehicle and autonomous mobility ecosystem.
The company’s initial investment will involve a collaborative venture with Zamil Group Real Estate Co., Abdullah Ibrahim Alkhorayef Sons Co., and Dar Al-Himmah Projects Co. Ltd. to establish an automotive logistics hub in King Abdullah Economic City. With its commitment to diversifying the economy and promoting sustainability, PIF’s TMI is set to accelerate Saudi Arabia’s transition toward becoming a key player in the automotive industry and achieving its goal of net-zero emissions by 2060.