VILLEURBANNE, France, March 29, 2022–(BUSINESS WIRE)–Regulatory News:
NAVYA (FR0013018041- Navya) (Paris:NAVYA), a leader in autonomous mobility systems, and Electromin, an eMobility turn-key solutions company wholly owned by Petromin, a leading Saudi company in the advanced lubricants, automotive technology, multi-modal mobility and sustainable transportation, signed a MoU for the distribution of Navya’s products and technology in KSA as well as joint development of advanced custom autonomous mobility solutions for the Kingdom’s numerous Mega and Giga projects, parks, universities and other developments.
“At Petromin we strongly believe in sustainability and are guided by our principals of responsible corporate citizenship for the embellishment of our planet. Two years ago, we embarked on an exciting journey with an ambitious goal to transform our storied successful company from primarily a premier lubricant manufacturer and operator of the largest network of quick service facilities, to a world class automotive technology, advanced mobility, and avant-garde transportation solutions company. As part of that journey, we started Electromin, a technology driven, turn-key eMobility provider that is now leading the electrification of the Kingdom and GCC.
This MoU to establish a collaboration with Navya, a prominent global technology company for autonomous driving systems and a market leader in GCC with 75% share, is a very important milestone in our quest to be able to provide our mobility clients with ecologically sound platforms for movement of people, goods, and services.” Said Kalyana Sivagnanam, Group CEO of Petromin.
“I am delighted to sign this MoU with Electromin, a first step towards a fruitful collaboration, that will enable us to strengthen our position throughout the GCC zone. The Middle East, a pioneer in creating smart cities and new sustainable models, is a remarkable region for innovation and a front-runner in the deployment of sustainable mobility solutions. Electromin, a true inspiring leader in eMobility, perfectly complements our capabilities to accelerate global distribution in this major market. We share a common vision of mobility as a service, and we look forward to starting a productive collaboration to be a key enabler to the 2030 net positive ambition, bringing a new fluid, inclusive and sustainable autonomous transport solutions throughout the GCC zone” said Sophie Desormière, CEO of Navya.
The collaboration between the two companies shall include the development of the sale and distribution of Navya autonomous vehicles and technological solutions, as well as assessing the possibility of joint industrialization of the future generations of Navya autonomous vehicles in the Kingdom of Saudi Arabia.
In the auspices presence of H.E Amr Al Dabbagh (Chairman Al Dabbagh Group), Kalyana Sivagnanam (Group CEO Petromin) & Sophie Desormière (CEO Navya), signed an agreement for the distribution of Navya’s products and technology in KSA as well as joint development of advanced custom autonomous mobility solutions for the Kingdom’s numerous Mega and Giga projects, parks, universities and other developments.
About NAVYA
Created in 2014, NAVYA is a leading French name specialized in the supply of autonomous mobility systems and associated services. With 280 employees in France (Paris and Lyon), in the United States (Michigan) and in Singapore, NAVYA aims at becoming the leading player in Level 4 autonomous mobility systems for passenger and goods transport. Since 2015, NAVYA has been the first to market and put into service autonomous mobility solutions. The Autonom® Shuttle, main development axis, is dedicated to passenger transport. Since its launch, more than 200 units have been sold in 25 countries as of 31 December 2021. The Autonom® Tract is designed to goods transport. Engaged in an ambitious CSR approach, the Company has an active policy in this area, as illustrated by the obtaining of the ISO 9001 certification in September 2021. The Valeo and Keolis groups are among NAVYA’s historical shareholders.
NAVYA is listed on the Euronext regulated market in Paris (ISIN code: FR0013018041- Navya).
For more information visit : www.navya.tech
About Petromin
Established in 1968 by the Royal Decree, Petromin is a leading Saudi multi-national company for advanced lubricants, cutting edge multi-modal mobility, a solutions provider for sustainable transportation and a transformative force for the movement of people, goods and services through ecologically sound platforms.
About Electromin
Electromin is the leading Saudi turn-key, technology driven eMobility solutions company for passenger vehicles, commercial and government fleets, public transit and large infrastructure projects. The world is changing, we’re building the future of eMobility to keep you ahead.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220328005826/en/
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