The Clap
According to Sumou Holding’s CEO, the company is planning to produce its first EVs within 12 to 18 months.
What
Last December, Sumou selected the Chinese auto startup, Enovate Motors International, as a partner to establish a factory for the production of EVs in KSA with a production capacity of 100,000 vehicles annually.
So What
Real estate constitutes approximately 85% of Somou’s total business portfolio with a volume exceeding SAR 20 billion.
Now What
Sumou has not disclosed where will its factory be constructed yet, but more than one Saudi official recently announced that the “King Abdullah Economic City” in Rabigh will be the hub for manufacturing EVs in KSA.