Mumbai, Feb. 22 -- TASARU Supplier Hub has announced agreements with five global Tier-1 suppliers to localise manufacturing operations in Saudi Arabia. The announcement, made during the 4th PIF Private Sector Forum, marks a step in the development of the national automotive ecosystem and the Kingdom's industrial infrastructure.

TASARU Mobility Investments, a PIF company, launched the hub to attract suppliers and support production for Original Equipment Manufacturers (OEMs) such as Lucid Motors and CEER, the Saudi electric vehicle brand.

The five companies will establish operations within the hub to produce essential vehicle components:

The TASARU Supplier Hub is located within Masarat Mobility Park at King Abdullah Economic City (KAEC...