Alkhorayef Discusses with Heads of Italian Companies Localization Opportunities in Automotive, Aircraft and Shipbuilding Industries

Minister of Industry and Mineral Resources Bandar Alkhorayef held a series of bilateral meetings yesterday here with heads of major Italian and international companies to discuss opportunities for localizing the electric car industry in the Kingdom, and enhancing cooperation in the aviation and shipbuilding sectors, as well as smart manufacturing solutions and industrial sector automation.
The meetings touched on the opportunities offered by 12 strategic sectors that focus on localizing, and the capabilities and incentives provided by the Kingdom to global investors to exploit investment opportunities, and add value to the national economy.
In a meeting with the founder and CEO of the leading Swiss electric car manufacturer Piëch Automotive, Anton Piëch, Alkhorayef talked about the opportunity to benefit from the latest car manufacturing technologies in the Kingdom, reiterating the Kingdom's wish to localize this industry, through establishing major projects in the automotive sector, including the project Lucid, entailing manufacturing electric cars in the Kingdom, which aims to produce 155,000 cars annually by 2027, and establishing the Ceer company to manufacture cars, with a production capacity of up to 170,000 cars annually by 2034.
Alkhorayef also discussed with the head of alNimr alArabi Holding Company the company's ambitious moves to localize aviation industry technologies in the Kingdom by establishing a factory specialized in manufacturing aircraft parts after its acquisition of Piaggio Aerospace, a leader in the manufacture of commercial aircraft and drones.
Alkhorayef met also with officials from the Italian company Fincantieri, which specializes in shipbuilding, and reviewed with them opportunities for cooperation in the marine industries in the Kingdom, across all value chains, from the design stage to the presentation of the final product.
In a meeting with the international markets manager at AlmavivA Technology Company, the minister discussed the latest solutions for automating industrial facilities to increase their production efficiency, enhancing cooperation in the field of smart manufacturing, and adopting the applications of the Fourth Industrial Revolution in the industrial sector, especially integrating robots in the manufacturing processes.
Alkhorayef also met with Saudi-Italian Business Council Vice President Yousef Al-Maimani and praised the role of the council in strengthening trade and economic ties between the Kingdom and Italy, and in encouraging Italian private sector companies to invest in promising sectors in the Kingdom, especially in the industrial and mining sectors.