Monday, July 15, 2024

Tasaru Mobility Investments Acquires Minority Stake in Benteler Group’s Autonomous Mover Business

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Benteler Group, a player in the automotive sector, is poised for a significant expansion of its autonomous mover venture, Holon, following a multi-million-dollar investment commitment from Tasaru Mobility Investments, a Saudi Arabian investment firm specializing in automotive initiatives. Tasaru has disclosed its intention to acquire a minority stake of up to 38% in Holon, marking a strategic move in the realm of autonomous mobility.

The agreement, formalized by the management teams of both companies, sets the stage for substantial advancements in the autonomous transportation sector. The influx of funds from Tasaru is earmarked for the acceleration of series development and industrialization efforts aimed at enhancing Holon’s autonomous, fully electric mover.

See also: Holon presents autonomous electric mover with range up to 290 km

According to Ralf Göttel, CEO of the Benteler Group, the partnership signifies a pivotal moment for Holon, representing external validation and support for the venture’s vision. Göttel remarked, “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 put the vehicle on the road as soon as possible.”

Michael Mueller, CEO of Tasaru, emphasized the strategic alignment between Holon’s innovative Mover and Saudi Arabia’s Vision 2030, envisioning substantial benefits for both the Kingdom and other regions. Mueller stated, “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.”

See also: Geely Launches 11 Low-Earth Orbit Satellites for Autonomous Vehicle Navigation

Henning von Watzdorf, CEO of Holon, highlighted the significance of the partnership in accelerating the venture’s development trajectory. He stated, “This is a significant step for Holon. The partnership with Tasaru will allow us to accelerate the further development, industrialization and scaling of our Mover.” Watzdorf outlined plans for 2024, focusing on prototype development and initial test drives, with the aim of initiating pilot projects by 2025 to meet burgeoning customer demand for safe, inclusive, emission-free, and sustainable passenger transportation solutions.

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