Holon Mover attracts investor from Saudi Arabia

The Benteler Group could soon be getting some new cash. An external investor is looking to buy a significant amount of shares to help the company's business with its autonomous vehicle grow.

Saudi Arabian company Tasaru Mobility is looking to acquire a 33 per cent stake in the Benteler subsidiary Holon “for a nine-digit sum,” the company writes. However, Tasaru will not buy the shares at once but in tranches. Following regulatory approval, the first transaction is expected in April.

Benteler will use the money to expand its autonomous mover business. The Holon Mover is an all-electric self-driving vehicle for public roads and, according to the company, “one of the world’s first movers built to automotive standards.” It can go up to 60 kph and seat up to 15 passengers, making it an ideal vehicle for ridesharing and on-demand services.

The electric shuttle operates autonomously (Level 4) and has a range of approximately 290 kilometres. The vehicle was first revealed at the CES in Las Vegas a year ago. Holon had only been spun off at the end of 2021 to bundle and push the business with autonomous electric shuttles – internally called “People Movers.”

In October of last year, Holon received the green light from the German city of Hamburg to test its vehicles there. In a first step, some 20 self-driving shuttles will hit the road: The Holon Mover and the VW ID.Buzz AD. It could be as many as 10,000 autonomous shuttles by 2030. The German federal government supports the pilot with 26 million euros. The esults will be the basis for future commercial provision and scaling of ridepooling services

“What a journey for Holon. 2023 started with the successful world premiere of our autonomous mover at the Consumer Electronics Show in Las Vegas. And now, 2024 starts with a strong partnership that will enable us to put the vehicle on the road as soon as possible,” says Ralf Göttel, CEO of the Benteler Group. “We are delighted that Holon, one of Benteler’s entrepreneurial successes, has also convinced external investors and that the series development as well as industrialization of our mover is now secured. Together with Tasaru we will make mobility safer and more sustainable.”

benteler.com