Saudi Arabia to Host First of its Kind Motor Show for Electric, Hybrid Cars

This photo taken on July 21, 2017 shows Mahindra's electric car "e2o Plus" plugged in for charging at a showroom in New Delhi. (AFP)
This photo taken on July 21, 2017 shows Mahindra's electric car "e2o Plus" plugged in for charging at a showroom in New Delhi. (AFP)
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Saudi Arabia to Host First of its Kind Motor Show for Electric, Hybrid Cars

This photo taken on July 21, 2017 shows Mahindra's electric car "e2o Plus" plugged in for charging at a showroom in New Delhi. (AFP)
This photo taken on July 21, 2017 shows Mahindra's electric car "e2o Plus" plugged in for charging at a showroom in New Delhi. (AFP)

Saudi Arabia will host the first of its kind e-Motor Show in the Middle East for electric and hybrid cars between February 25 and 28, with the participation of major car manufacturers and agents.

The e-Motor Show-Middle East will highlight recent developments in the electric and hybrid vehicles sector and clean technologies in the region, which are expected to become a natural part of the environmental transportation system, given the advanced technical capabilities and the promising opportunities.

Saudi Vision 2030 encourages such industries that help build a competitive economy along with sustainable development and infrastructure that promotes the realization of the Kingdom’s strategic short and long terms objectives.

The show also aims to enhance public awareness about electric and hybrid vehicles, which reflects the future of transportation in the Kingdom.

In addition, investing in such types of vehicles is an important trend, both in terms of manufacturing, various applications, import and export.

Chairman of the Cars Agent National Committee at the Council of Saudi Chambers Faisal Abu Shusha said it was a “matter of pride” that such an important event is being organized inside the Kingdom.

He described it as a stepping-stone towards a prosperous future for modern transportation.

Abu Shusha stated it is important to prepare relevant policies and regulations pertaining to the electric vehicles (EVs) industry in both a clear and proactive manner.

He also called for activating the role of the private sector to provide new job opportunities and enhance the utilization of this technology.

Investing in the field of manufacturing electric vehicles in the Kingdom is something worth studying, especially as it falls in line with Vision 2030 and the national industry development program, he remarked.



Tata Seals Deal with Pegatron for iPhone Plant in India's Tamil Nadu

FILE PHOTO: Apple iPhones are seen inside India's first Apple retail store during a media preview, a day ahead of its launch in Mumbai, India, April 17, 2023. REUTERS/Francis Mascarenhas/File Photo
FILE PHOTO: Apple iPhones are seen inside India's first Apple retail store during a media preview, a day ahead of its launch in Mumbai, India, April 17, 2023. REUTERS/Francis Mascarenhas/File Photo
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Tata Seals Deal with Pegatron for iPhone Plant in India's Tamil Nadu

FILE PHOTO: Apple iPhones are seen inside India's first Apple retail store during a media preview, a day ahead of its launch in Mumbai, India, April 17, 2023. REUTERS/Francis Mascarenhas/File Photo
FILE PHOTO: Apple iPhones are seen inside India's first Apple retail store during a media preview, a day ahead of its launch in Mumbai, India, April 17, 2023. REUTERS/Francis Mascarenhas/File Photo

India's Tata Electronics has agreed to buy a majority stake in Taiwanese contract manufacturer Pegatron's only iPhone plant in India, forming a new joint venture that strengthens Tata's position as an Apple supplier, two sources told Reuters.
Under the deal announced internally last week, Tata will hold 60% and run daily operations under the joint venture, while Pegatron will hold the rest and provide technical support, said the two sources, who declined to be named as the details are not yet public.
The sources did not elaborate on the financials of the deal.
Tata declined to comment, while Apple and Pegatron did not respond to Reuters queries on Sunday.
Reuters was first to report in April that Pegatron had the backing of Apple and was holding advanced talks to sell its only iPhone plant in India to Tata, marking the Taiwanese firm's latest scale back of its Apple partnership.
Apple is increasingly looking to diversify its supply chain beyond China amid geopolitical tensions between Beijing and Washington. For India's Tata, the Chennai Pegatron plant will bolster its iPhone manufacturing plans.
Tata is one of the largest conglomerates in India and has been fast expanding into iPhone manufacturing, rivaling the only other iPhone contract manufacturer operating in India, Foxconn.
The announcement for the deal's closure was made internally at the iPhone plant on Friday, said the first source.
The second source said the two companies plan to file for an approval of the Competition Commission of India (CCI) in the coming days.
Tata already operates an iPhone assembly plant in the southern state of Karnataka, which it took over from Taiwan's Wistron last year. It is also building another in Hosur in Tamil Nadu, where it also has an iPhone component plant which was involved in a fire incident in September.
Analysts estimate India will contribute 20-25% of total iPhone shipments this year, from 12-14% last year.
The Tata-Pegatron plant, which has around 10,000 employees and makes 5 million iPhones annually, will be Tata's third iPhone factory in India.