Australian group Avass signs memorandum of understanding with Saudi prince to manufacture electric vehicles and lithium batteries
The Australian group Avass recently announced that it has signed an agreement with Saudi Arabia to jointly manufacture electric vehicles and lithium batteries.
The Group approved a memorandum of understanding with Prince Abdulaziz Bin Abdullah Bin Saud in the capital Riyadh on 19 December.
The deal bolsters Avass Group’s plans to mass manufacture all-electric buses and lithium batteries in Saudi Arabia.
The partnership stems from the recognition of the strategic advantage that Saudi Arabia possesses due to its location at a central point between Asia and Europe.
Considering the growing consumer awareness of environmental protection and considering the recent development trends of the electric vehicle industry, the Avass Group is targeting the huge potential of the global electric vehicle market.
Dr Allen Saylav, Group Managing Director at Avass, said: “At a time when more and more countries are trying to reduce their carbon footprint, it is imperative to stimulate the manufacture of electric vehicles to achieve this goal. Saudi Arabia sits at a central point between Asia and Europe, giving it a strategic advantage as a production hub.
“The agreement will also greatly help the business relationship between Saudi Arabia and India and help Avass provide an integrated solution for batteries and electric vehicles,” he added. Recently, Saudi Arabia announced that at least 30% of cars in its capital would be electric by 2030, as the world’s largest oil exporter tries to curb global-warming emissions.
The Melbourne-based Avass brand has established its heritage through its commitment to providing a wide range of research and development technologies at its sites in Australia, India, Singapore, Indonesia and Saudi Arabia. With a strong presence of dedicated supply chains, the Group is exploring different market opportunities and creating economies of scale.
The partnership with Saudi Arabia will build on the Advanced Technology Group’s quest to transform the world by creating a clean energy ecosystem.
In 2019, when Avass became a subsidiary of DFT Group Pty Ltd, it reinforced its commitment to continued technology development by producing a wide range of electric vehicles, components and lithium-ion batteries.
The DFT Group Pty Ltd. is a large international business conglomerate engaged in various business sectors, with a focus on advancing the causes of clean and renewable energy projects and initiatives.
The Avass Touring Bus holds the Guinness World Record for an electric bus traveling more than 1,000 km on a single charge, and Avass is also the first Australian electric vehicle manufacturer to obtain a World Manufacturer ID (WMI).