Saudi Arabian investor joins Benteler autonomous shuttle subsidiary Holon
The agreement with Tasaru Mobility Investments first became apparent in February: the Saudi Arabian investor intended to acquire a minority stake in the Benteler subsidiary Holon for a three-digit million sum, it was announced at the time. According to Benteler, all formalities have now been settled (“Both the EU competition authority and the German Federal Ministry for Economic Affairs and Climate Protection have authorised the investment”) and the transaction can be completed.
The new funds will be used to drive forward the further series development and industrialisation of the autonomous electric shuttle called Mover. The vehicle was first unveiled in early 2023. To commercialise the Mover, the company is now planning to set up three production sites in close cooperation with Tasaru Mobility Investments in order to market the vehicle worldwide: in the USA, Saudi Arabia and Europe. In other words, the cash injection is intended to enable nothing less than the move into series production.
Benteler CEO Ralf Göttel expressly welcomes the official approvals. “Together we will continue to drive forward the successful development of HOLON. The first prototypes of our mover are expected to be available this year; the first vehicles are scheduled to be in use in pilot projects in 2025. We are convinced that inclusive, emission-free and sustainable passenger transportation is the answer to traffic problems in our cities, climate change and demographic developments.”
Michael Müller, CEO of Tasaru Mobility Investments, commented: “TASARU is committed to a smart and sustainable future. HOLON fits into our portfolio and supports the ambitious goals of Saudi Arabia’s Vision 2030. The Kingdom of Saudi Arabia is increasingly developing into a hub for innovation and autonomous mobility.”
Tasaru Mobility Investments is an investment company from Saudi Arabia that specialises in automotive initiatives. The Benteler press release does not mention what share the company now holds in Holon. When the plans were presented in February, there was talk of a stake of up to 38 per cent.
Benteler has designed the Holon Mover as a fully electric and autonomous vehicle for use on public roads. According to the manufacturer, it is “one of the world’s first shuttles built to automotive standards – in other words, it aims to be a leader in safety, ride comfort and production quality”. The vehicle travels at a maximum speed of 60 kilometres per hour and offers space for up to 15 passengers. Areas of application include on-demand services – such as ride pooling and ride-hailing – as well as normal scheduled services.
Benteler founded the Holon brand for its autonomous electric shuttles in November 2022, and the first Holon shuttle was unveiled at CES in early 2023. The Paderborn-based supplier has been working on autonomous e-shuttles for much longer. Initially, it was just an internal project, but in 2021 the Benteler EV Systems division was spun off – and later renamed Holon.
According to Henning von Watzdorf, CEO of Holon since August 2023, “Customer interest is immense: our vehicle makes safe, inclusive, emission-free and sustainable passenger transportation possible and is therefore the answer to traffic problems in cities, climate change and demographics.”
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