TASARU Mobility Investments makes an investment in HOLON, a smart public transport vehicle developer
- TASARU Mobility Investments (“TASARU”) to acquire a strategic stake in HOLON
- This investment aims to support the development and industrialization of the company’s autonomous, fully electrified shuttle
- HOLON plans to establish production plants in the Kingdom of Saudi Arabia, Europe, and the USA
Salzburg/Paderborn/Riyadh, February 8th, 2024. TASARU, a PIF company, has announced the signing of a binding agreement for the acquisition of a strategic stake in the BENTELER Group subsidiary, HOLON, providing financing for the development of its autonomous Mover business.
TASARU’s strategic investment in HOLON will occur through phased transactions, commencing in the first quarter of 2024 and contingent on regulatory approvals. These funds will facilitate the continued progress of autonomous, fully electrified, and inclusive Mover development. This strategic investment underscores TASARU’s commitment to advancing smart and sustainable mobility solutions, in line with Saudi Arabia’s Vision 2030 goals of integrating a significant share of autonomous vehicles into the overall mobility segment.
TASARU’s investment will fuel the Mover’s progress, accelerating its development and industrialization. The investment also paves the way for establishing production plants in Saudi Arabia, Europe, and the USA, creating local job opportunities, and fostering technology transfer to the Kingdom. This aligns perfectly with TASARU’s strategy to localize expertise and contribute to Saudi Arabia’s economic diversification, positioning the Kingdom as a leader in the future of autonomous mobility.
Capitalizing on the 150 years of experience of its parent company, BENTELER, HOLON aims to produce the world’s first autonomous electric Mover using automotive-grade standards. HOLON has designed the Mover as a public transport solution focused on creating smart and environmentally friendly passenger and goods vehicles.
Michael Mueller, CEO of TASARU, said: “HOLON’s revolutionary Mover aligns perfectly with TASARU’s vision for a smarter and more sustainable future, supporting the ambitious targets outlined in Saudi Arabia’s Vision 2030. Together, we will unlock the Mover’s potential, bringing significant benefits to Saudi Arabia and other regions and establishing the Kingdom as a hub for autonomous mobility innovation and manufacturing.”
The HOLON Mover is a fully electric autonomous vehicle designed for public road use. The vehicle, which travels at a maximum speed of 60 kilometers per hour and can accommodate up to 15 passengers, is a leader in safety, ride comfort, and production quality. Areas of application include on-demand services such as ride pooling and ride-hailing, in addition to its normally scheduled services.
Ralf Göttel, CEO of the BENTELER Group, said, “What a journey for HOLON. 2023 started with the successful world premiere of our autonomous mover at the Consumer Electronics Show in Las Vegas. And now, 2024 starts with a strong partnership that will enable us to deploy the vehicle on the road as soon as possible. We will work with TASARU to make mobility safer and more sustainable.”
Henning von Watzdorf, CEO of HOLON, added: “This is a significant step for HOLON. The partnership with TASARU will allow us to accelerate the development, industrialization, and scaling of our Mover. In 2024, the focus will now be on prototype development and initial test drives. Our goal is for the first vehicles to be used as part of pilot projects in 2025. Customer interest is immense: our vehicle makes safe, inclusive, emission-free, and sustainable passenger transportation possible, while at the same time alleviating traffic issues in cities.”
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About TASARU Mobility Investments
TASARU Mobility Investments is an independent, government-backed enterprise, wholly owned by PIF, established with a unique mission to build a thriving Saudi Arabian automotive and mobility ecosystem. We serve as a strategic bridge, acting as the partner of choice, connecting investors to private sector partnerships and government entities, eliminating barriers for a seamless venture experience in the Kingdom. TASARU plays a pivotal role in nurturing and expanding the Automotive & Mobility ecosystem, championing its growth and development. Founded by PIF, TASARU is deeply committed to injecting growth capital, propelling ambitions, and turning promising opportunities into successful realities.
