A Renault-backed electric vehicle (EV) company, BeyonCa has established a partnership with the Saudi Arabia-based Al Faisaliah Group (AFG) in an attempt to gain traction in the rapidly growing luxury EV market in the Middle East.
The two organisations strengthened their collaboration on Friday when they signed a memorandum of investment and strategic cooperation in Wuhan, in the Hubei province of Central China. As of right now, the agreement's specifics have not been made public.
The CEO of AFG, Ziad Al Tunisi, expressed excitement over the partnership with BeyonCa and the larger EV ecosystem in China. He thinks this partnership will be crucial in advancing Saudi Arabia's high-caliber development of electric cars.
In a related step, BeyonCa signed a contract with Q Auto, a car dealership with connections to well-known brands like Volkswagen and Audi, on the same day.
As the CEO of Renault China and the chairman of BeyonCa, Soh Weiming has great hopes for the luxury EV market.
Between 2025 and 2030, he predicts a sharp increase in demand for high-end electric automobiles.
BeyonCa was founded in 2021 and unveiled the GT Opus 1, its first concept car, to the public in late 2022.
The company works out of offices in Singapore, Germany, and China and the partnership represents a significant advancement in their endeavours to increase their visibility and impact within the worldwide electric vehicle industry.
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