STC Group, Microsoft Team Up for Corporate Digital Transformation Innovation across Saudi Arabia

A man passes the Saudi Telecom STC office in Riyadh, Saudi Arabia, February 6, 2018. (Reuters)
A man passes the Saudi Telecom STC office in Riyadh, Saudi Arabia, February 6, 2018. (Reuters)
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STC Group, Microsoft Team Up for Corporate Digital Transformation Innovation across Saudi Arabia

A man passes the Saudi Telecom STC office in Riyadh, Saudi Arabia, February 6, 2018. (Reuters)
A man passes the Saudi Telecom STC office in Riyadh, Saudi Arabia, February 6, 2018. (Reuters)

stc group, an engine of digital transformation, announced the expansion of its strategic partnership with Microsoft to further advance its digitalization and drive innovation across Saudi Arabia.

As part of the partnership, the organizations will jointly develop and deploy cutting-edge solutions that will transform and empower organizations across various industries, while enabling small businesses to grow and thrive in the digital economy, according to a press release by stc, SPA reported.

"Our strategic partnership with Microsoft marks a defining moment in the history of digital transformation for both stc group and the Kingdom of Saudi Arabia,” said stc group CEO Olayan Alwetaid.

“This collaboration isn't just about technology; it's about promoting a future where Saudi Arabia is at the forefront of global innovation, setting the standard for what's possible in the digital age. Together with Microsoft, we will work to bring the latest technologies to Saudi Arabia and help businesses of all sizes to embrace digital transformation, advance economic diversification, and create a more vibrant and prosperous future for our country.”

The collaboration between the organizations, the release said, aims to enable stc’s subsidiaries to explore new markets, develop disruptive business models, and bring innovative products and services to market. By jointly developing and deploying the latest advanced technologies, the partnership aims to support high-quality, safe, and secure digital experiences for businesses across the Kingdom.

The alliance will also serve as an innovation powerhouse, powering the transformation of industries from the Kingdom to the world.

“We are excited about this next phase in our journey with stc. Our aim is to empower businesses of all sizes and industries with tailored digital solutions that enable them to innovate and solve their unique challenges to drive equitable business growth.” Said President Microsoft EMEA Ralph Haupter.



EV Maker Rivian Halts Production of Amazon Delivery Vans amid Parts Shortage

An Amazon EV van powered by Rivian is parked at the Amazon Logistics Facility in Chicago, Illinois, US, July 21, 2022. REUTERS/Jim Vondruska/File Photo Purchase Licensing Rights
An Amazon EV van powered by Rivian is parked at the Amazon Logistics Facility in Chicago, Illinois, US, July 21, 2022. REUTERS/Jim Vondruska/File Photo Purchase Licensing Rights
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EV Maker Rivian Halts Production of Amazon Delivery Vans amid Parts Shortage

An Amazon EV van powered by Rivian is parked at the Amazon Logistics Facility in Chicago, Illinois, US, July 21, 2022. REUTERS/Jim Vondruska/File Photo Purchase Licensing Rights
An Amazon EV van powered by Rivian is parked at the Amazon Logistics Facility in Chicago, Illinois, US, July 21, 2022. REUTERS/Jim Vondruska/File Photo Purchase Licensing Rights

Rivian has temporarily suspended production of its commercial delivery vans used by retail giant Amazon.com due to a shortage of parts, a spokesperson for the electric vehicle manufacturer said on Friday.

Shares of the Irvine, California-based company were down 1.7% in premarket trading.

The production halt is the latest in a series of supply chain challenges for Rivian, which, like other EV makers, has grappled with significant production issues over the past two years due to supplier shortages, according to Reuters.

Amazon, Rivian's largest investor with a 16% stake, has ordered 100,000 electric delivery vans to be deployed by 2030. Last year, sales to Amazon represented approximately 19% of Rivian's revenue.

Amazon did not immediately respond to a Reuters request for comment.

"A part shortage has temporarily impacted our Electric Delivery Van (EDV) production. We expect to recover all missed production," the spokesperson said in an emailed statement.

The company did not disclose any information about the specific part and supplier in question, and also declined to comment on when the production stoppage began and if it has resumed.

The part shortage would not affect the production of other Rivian vehicles, including its R1S SUV and R1T pickup models.

Earlier this month, Rivian had maintained its production forecast and said that deliveries would be slightly lower in the current quarter after it shut down its factory in April for retooling and modifications.