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Australia’s Avass Group, Saudi Arabia inks MoU to manufacture EVs, LiBs

Mr. Ricky Duggal Chairman of Libcoin Avass, HRH Prince Abdulaziz Bin Abdullah Bin Saud Bin Abdulaziz Al Saud, Kingdom of Saudi Arabia, Dr. Allen Saylav, Group Chief Executive Officer of Avass, Mr. Omar-Advisor of HRH Prince, Saud Ali Hasan Alnefaiee and Abdelkader Abbas - Private office of His Royal Highness (Source: Avass)

Australia-based Avass Group has announced that they have signed an agreement with Saudi Arabia to mutually manufacture electric vehicles and lithium batteries.

The Group has endorsed a Memorandum of Understanding (MoU) with HRH Prince Abdulaziz Bin Abdullah Bin Saud Bin Abdulaziz Al Saud in the capital city of Riyadh on December 19.

The agreement bolsters Avass Group's plans to mass manufacture Full Electric Buses and Lithium Batteries in Saudi. The partnership stems from the consideration of strategic advantage that Saudi Arabia has due to its location at a central point between both Asia and Europe.

Given the increasing consumer awareness of environmental protection and given recent development trends of the electric vehicle industry, Avass Group is targeting the huge potential in the global electric vehicle market.

Dr. Allen Saylav, Group Chief Executive Officer at Avass said, "At a time when more and more countries are trying to reduce their carbon footprint, it's imperative to boost manufacturing of EVs to meet this goal. Saudi Arabia stands at a central point between Asia and Europe which gives it a strategic location advantage as a production hub."

"The agreement will also greatly assist the trade relationship between Saudi Arabia and India and help Avass to provide an integrated solution for batteries, EVs," he added.

Recently, Saudi Arabia had announced that at least 30 percent of the cars in its capital would be electric by 2030, as the world's biggest oil exporter has been trying to reduce planet-warming emissions.

The Melbourne-based Avass brand has established its legacy through its commitment to delivering a vast array of research and development technology throughout its locations in Australia, India, Singapore, Indonesia, and Saudi Arabia. With a strong presence of a dedicated supply chain, the Group is exploring different market opportunities and creating economies of scale.

The partnership with Saudi Arabia will be an extension of the Group's pursuit of cutting-edge technologies to transform the world by creating a clean energy ecosystem. In 2019, when Avass became a subsidiary of the DFT Group Pty Ltd, it strengthened its commitment to continuing technology development by producing a vast array of electric vehicles, components, and lithium-ion batteries. 

Author : Debi Dash
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