Over 100 American and Saudi industry leaders and stakeholders convened for a virtual discussion on the introduction and opportunities of the Saudi automotive manufacturing sector. The event, which took place on April 18, provided a platform for key private and public sector players to share insights and opportunities in this rapidly evolving landscape.
Hosted by the U.S.-Saudi Business Council in partnership with the National Industrial Development Center (NIDC) under the flagship of Auto Connect Forum, the webinar offered attendees an opportunity to explore various aspects of the Saudi automotive industry, including government initiatives, investment criteria, and firsthand experiences of companies already operating within the Kingdom.
Event speakers included prominent executives, such as James DeLuca, CEO, Ceer; Faisal Sultan, Vice President and Managing Director, Middle East, Lucid Motors; Aftab Ahmed, Chief Advisor, Automotive, National Industrial Development Center (NIDC); Bader Al-Huthail, Director, Automotive, NIDC; Ahmed Al-Malki, Director Automotive Ministry of Investment (MISA); Joseph Kirikian, Chief Investment Officer, TASARU Mobility Investments; Jason Murar, President and CEO, JVIS; and Dr. Shah Firoozi, CEO, PAC Group.
“We at the U.S.-Saudi Business Council are delighted to have hosted this event,” remarked Susanne Lendman, Interim President and CEO of the Council. “For over 30 years, it has been our mission to facilitate collaboration and growth opportunities in sectors like the Saudi automotive industry. Our role has been to connect industry leaders and stakeholders, introducing market opportunities and fostering valuable introductions. Discussions like these are crucial in driving innovation and advancement within the industry, and we remain committed to supporting initiatives that promote mutual prosperity and development.”
Aftab Ahmed, Chief Advisor for Automotives at the National Industries Development Center noted: “Saudi Arabia’s automotive sector is moving at a very rapid speed for localization of passenger vehicles and parts. The National Industrial Strategy has set up an aspiration for the sector under Vision 2030 of KSA, and the Auto sector team is working jointly to achieve these goals with all government stakeholder support.”
The discussion underscored pivotal aspects of the Saudi automotive manufacturing sector. Participants gained insights into the Saudi government’s commitment to sector development, encompassing various programs and incentives to attract OEMs, Tier 1, and Tier 2 suppliers. Detailed discussions also revolved around investment criteria and mandates set by key government agencies and the Public Investment Fund (PIF) portfolio companies. Additionally, attendees had the chance to engage directly with prominent U.S. and Saudi OEMs and suppliers already operating within Saudi Arabia, acquiring valuable perspectives and information.
