May 29, 2024

Canoo partners with GCC Olayan as EV Distributor in Saudi Arabia

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Canoo and GCC Olayan Partnership

Canoo, a high-tech advanced mobility company, recently signed an exclusive agreement with “GCC Olayan (General Contracting Company) a leading multi-national subsidiary of Olayan Saudi Holding Company (OSHCO), for the sale, service, and distribution of  Canoo fleet solutions In Saudi Arabia. GCC Olayan has been a distributor of premier brands in Saudi Arabia for more than 75 years and is the founding company of the global Olayan Group.

Tony Aquila, Chairman & CEO at Canoo

Tony Aquila, Chairman & CEO at Canoo stated: “It has been an honor to work with the Olayan group companies over many years. Our agreement to bring Canoo’s award-winning vehicles to the region is grounded in our mutual commitment to customer service. The Olayan Group is a global business leader with decades of experience in distribution partnerships with some of the world’s leading brands and they are a proven partner to support EVs in the region.”

Uwaidh K. Al-Harethi, CEO of Olayan Saudi Holding Company (OSHCO)

Uwaidh K. Al-Harethi, CEO of Olayan Saudi Holding Company (OSHCO), commented: “Through our diverse operating companies including GCC Olayan, we have introduced many leading international brands, products and services in Saudi Arabia. An unswerving commitment to excellence and in-depth knowledge of the local market are the mainstay of our continuing success and strong track record. We recognize that there is a growing demand for sustainable mobility solutions in Saudi Arabia, partly driven by the Kingdom’s launch of the Saudi Green Initiative and its pledge to achieve net zero by 2060. With that in mind, we are pleased to sign the product and service distribution agreement with Canoo and are proud to be the exclusive distributor of its electric vehicles in our market. The new partnership will combine GCC Olayan’s over 75 years of experience in the automotive and adjacent sectors with Canoo’s innovative electric vehicle technology to cater to this need in the market and contribute to global efforts to tackle carbon emissions as well as to Saudi Vision 2030’s sustainability goals.”

Canoo vehicles are built on the company’s proprietary multi-purpose platform (MPP) architecture that integrates all high-tech components such as motors, battery modules, and other critical driving components. Engineered with true steer-by-wire technology, Canoo vehicles have reduced moving parts and cabin intrusion, resulting in more usable interior space, better driver ergonomics, and the addition of a panoramic window to improve road visibility. The modular design also facilitates the ability to localize the offering and provides for a scalable local manufacturing approach.

The first phase of the agreement is for the sale, distribution, service maintenance, and repair of Canoo vehicles. Additionally, Canoo and GCC Olayan will also work to develop a joint venture to launch a digital vehicle ecosystem for service maintenance repair, local assembly, and eventually manufacturing.

Under Saudi Arabia’s Vision 2030, the Kingdom has set an ambitious course for electric vehicle adoption and sustainable mobility solutions. Canoo’s award-winning vehicles and advanced mobility digital solutions will uniquely address the market for purpose-built vehicles to meet fleet needs, in the industrial, transportation, delivery, tourism, retail sectors, and beyond.

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