Arab News, Saturday, Sep 10, 2022 | Safar 14, 1444
Saudi shipping firm Bahri, German MOSOLF collaborate on automobile supply chain development
Saudi Arabia: Saudi shipping firm
Bahri Logistics signed a Memorandum of Understanding with German automotive
supply chain expert MOSOLF Group to collaborate on developing the sector in the
Kingdom.
This deal seeks to further fortify the Kingdom’s
current automotive logistics supply chain, and is set to be expanded across the
Gulf Cooperation Council region.
Under the terms of the partnership, both parties
will work collaboratively to develop and operate an automotive logistics system
that prioritizes business-to-business fulfillment and the application of
industry-leading logistics practices, a statement showed.
“As Saudi Arabia continues to diversify its
commercial sector and lay the foundation to manufacture 300,000 cars annually by
2030, we at Bahri Logistics are proud to heed the call to operational
excellence,” President of Bahri Logistics, Soror Basalom said.
“This valuable partnership will help develop the
automotive logistics market as we continue to innovate our services and work in
step towards the transformative objectives of Vision 2030,” he added.
The agreement aims to enhance the automobile
supply chain network domestically and regionally, by deploying innovative
solutions, as both parties will harness their industrial expertise and shared
resources.
This deal comes in line with the Saudi Public
Investment Fund’s recent investments in the car industry, focusing on the luxury
and electric vehicles markets.
PIF, a 22 percent stake owner in Bahri, is also a
major shareholder in US Lucid Motors, which has agreed to build its second
factory in King Abdullah Economic City in the near future.