BENTELER to Secure Multi-Million Dollar Saudi Investment for Autonomous HOLON Mover

Germany's BENTELER Group is set to secure a multi-million-dollar investment to expand HOLON, its autonomous mover business. TASARU Mobility Investments, a Saudi Arabian investment company specialising in automotive initiatives, has announced its intention to acquire a minority stake of up to 38% in HOLON.

The management of both companies have signed a respective agreement.

The funds from TASARU will be used to further advance the series development and industrialisation of the autonomous, fully electric, and inclusive mover.

Specifically, the plan is to establish three production sites to market the vehicle worldwide: in Europe, Saudi Arabia and the US.

The HOLON Mover travels at a maximum speed of 60 kilometers per hour and can accommodate up to 15 passengers. 

Its design comes from the design company Pininfarina, and the autonomous driving technology from the Intel subsidiary Mobileye.

Ralf Göttel, CEO of the BENTELER Group, says: "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. 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."

Michael Mueller, CEO of TASARU, adds: "HOLON's revolutionary Mover aligns perfectly with TASARU's vision for a smarter and more sustainable future, supporting the ambitious targets outlined in Saudi Arabia's Vision 2030. Together, we aim to unlock the Mover's potential, bringing significant benefits to Saudi Arabia and other regions, establishing the Kingdom as a hub for autonomous mobility innovation and manufacturing."

Henning von Watzdorf, CEO of HOLON, adds: "This is a significant step for HOLON. The partnership with TASARU will allow us to accelerate the further development, industrialization and scaling of our Mover. In 2024, the focus will now be on prototype development and initial test drives. Our goal is to have the first vehicles in use as part of pilot projects by 2025. 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."

BENTELER is a global company serving customers in automotive technology, the energy sector and mechanical engineering.