An automotive alliance in the Middle East
Bahri Logistics, the logistics arm of the former National Shipping Company of Saudi Arabia, has inked an agreement with the Germany-headquartered Mosolf Group, a European service provider for the automotive industry.
The partners plan to establish and develop an automotive logistics framework initially focused on Saudi Arabia with plans to expand across the Gulf Cooperation Council (GCC) with the support of the ministry of investment (Misa). The partners will launch B2B fulfilment and the application of logistics practices as a first step.
The Saudi Arabian Public Investment Fund’s (PIF), which owns a 22% stake in Bahri, is a majority shareholder in the American electric vehicle manufacturer Lucid Motors, which has agreed to build its second factory in Saudi Arabia’s King Abdullah Economic City in the near future. Bahri has a network of offices in Saudi Arabia, UAE, USA, and India with about 3,500 employees. (sh)