Canoo Expands into Saudi Arabia
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Canoo Expands into Saudi Arabia

Canoo Announces Definitive Partnership Agreement with GCC Olayan as Exclusive Distributor of its Electric Vehicles in Saudi Arabia

A new agreement between Walmart-backed Canoo and Saudi firm GCC Olayan will see the electric trucks distributed into the Middle East.

Canoo announced that it has signed an exclusive agreement with GCC Olayan to sell and service its innovative, modular electric work trucks into the MidEast nation. The two companies also plans to develop a new joint venture (JV) project to build out “a digital vehicle ecosystem” for service, maintenance, repair, local assembly, and (eventually) full vehicle manufacturing.

“It has been an honor to work with the Olayan group companies over many years. Our agreement to bring Canoo’s award-winning vehicles to the region is grounded in our mutual commitment to customer service,” said Tony Aquila, Chairman & CEO at Canoo. “The Olayan Group is a global business leader with decades of experience in distribution partnerships with some of the world’s leading brands and they are a proven partner to support EVs in the region.”

For their part, the Olayan Group partners seem equally excited to be bringing the platform into their home market, which has recently placed more importance on a post-oil economy through the Saudi Green Initiative.

Uwaidh K. Al-Harethi, CEO of Olayan Saudi Holding Company (OSHCO), commented, “Through our diverse operating companies including GCC Olayan, we have introduced many leading international brands, products and services in Saudi Arabia. An unswerving commitment to excellence and in-depth knowledge of the local market are the mainstay of our continuing success and strong track record. We recognize that there is a growing demand for sustainable mobility solutions in Saudi Arabia, partly driven by the Kingdom’s launch of the Saudi Green Initiative and its pledge to achieve net zero by 2060. With that in mind, we are pleased to sign the product and service distribution agreement with Canoo and are proud to be the exclusive distributor of its electric vehicles in our market. The new partnership will combine GCC Olayan’s over 75 years of experience in the automotive and adjacent sectors with Canoo’s innovative electric vehicle technology to cater to this need in the market and contribute to global efforts to tackle carbon emissions as well as to Saudi Vision 2030’s sustainability goals.”

The Canoo platform is currently undergoing testing with the US Army to determine the full range of its off-road and extreme weather capabilities – information that will, no doubt, be extremely useful to hot weather desert buyers.

 

US Army Canoo Test Vehicle

SOURCE | IMAGES: CANOO.

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AUTHOR: 

JO BORRAS (EIC)

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