A € 20 million joint venture between Qatari and French companies to establish an electric car production facility.
Qatar Free Zones Authority (QFZA) signed an agreement with Gaussin Advance Mobility, a French company, to establish the country’s first factory to assemble electric vehicles in Ras Bufontas Free Zone.
The € 20 million deal enables the partnership between the French company and Al Attiya Motors and Trading Company, to assemble electric cars and accelerate the production of emission-free vehicles.
Held in the Business Innovation Park at Ras Bufontas Free Zone, the signing was attended by: Ahmad bin Mohammed Al Sayed, the Minister of State and Chairman of QFZA; Abdul Aziz Al Attiya, Chairman of Al Attiya Motors and Trading Company; Christophe Gaussin, Chief Executive Officer of Gaussin Company through video conference from France; and Lim Meng Hui, CEO of QFZA, and Senior Officials from QFZA.
“At the national level, this partnership will allow us to further support our national champions, in addition to establishing an R&D center to support the development of vehicle technologies and products, which will in turn support the growth and success of these companies in this vital sector in Qatar,” said Chairman of QFZA.
The idea behind the production facility isn’t just to meet the needs of the Qatari market, the aim from those behind it is to serve other countries too.
“This partnership promises to provide outstanding opportunities that will benefit both the region and the globe,” Al Attiya said.
Al Misnad added that this is Qatar’s opportunity to become a pioneer in the exportation of electric vehicles as they continue to work with national suppliers to provide the factory’s products and to manufacture the components used.
Read also: Locally made: Qatar sees 17% increase in number of factories
Since the illegal Saud-led land, air and sea blockade imposed on Qatar in 2017, the country shifted from its reliance on imported goods towards local production. Overall, the number of local factories stands at 915, a 17 percent increase since 2017.
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Exciting news. But what happened to the deal with ARM that was struck a couple of years ago?