On February 20, Alat Ennet, a subsidiary of Saudi Arabia's Public Investment** (PIF), signed a partnership with Dahua Europe Bv.) announced a strategic partnership. Dahua Europe is a subsidiary of Dahua Technology Co., Ltd., the world's leading provider of intelligent IoT solutions and operation services with the core as the core. Together, the two companies will build an industry-leading, vision-centric, AI-driven business in Saudi Arabia.
The new joint venture, Aynette Artificial Intelligence Vision Technology (aivisio), will manufacture and market security and surveillance products and solutions for smart cities, smart buildings, and enterprise applications. ALAT Enet was established on 1 February by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince of Saudi Arabia, Prime Minister and Chairman of the Board of Directors of ALAT Ayneth.
Headquartered in Riyadh, Saudi Arabia, ALAT was established to create a global presence in the field of electronics and advanced industry, and is committed to building a world-class manufacturing center through global innovation and technology leadership. With an investment budget of $100 billion, Alat is partnering with technology leaders around the world to transform the industry while building a world-class clean energy-powered business in the Kingdom.
Dahua Technology Co., Ltd. has deployed products, solutions and services in more than 180 countries and regions around the world, covering key industries such as smart city, transportation, retail, banking, energy, and education. The company stands out with its advantages such as IoT digital intelligence technology, comprehensively promotes the digital and intelligent transformation and upgrading of cities and enterprises, and provides customers with more value and security.
Zhao Yuning, CEO of Dahua Technology Co., Ltd., said: "It is very important for us to establish a long-term cooperative relationship with ALAT Ennet. By establishing a highly automated, next-generation manufacturing center in Saudi Arabia, we are able to enhance our products and services and become a trusted partner to our customers around the world. Saudi Arabia's superior logistics conditions, unlimited clean energy** and our shared vision for sustainable manufacturing make for a truly win-win partnership. ”
Min Yida, CEO of ALAT, said: "Dahua Technology Co., Ltd. is the world's leading provider and operation service provider of intelligent IoT solutions with the core of the world, and it is a great honor for ALAT to cooperate with Dahua. ALAT Anet's ambition is to bring Kingdom-made smart city and enterprise digital solutions to both local and international markets. Dahua's ambition is aligned with ours, and together we will drive and realize our vision of manufacturing global sustainable technologies in Saudi Arabia." ”
ALAT and Dahua Technology Co., Ltd. have entered into a strategic partnership to build a next-generation manufacturing hub powered by clean energy, which will be an important milestone in the Kingdom's Vision 2030. The two companies have committed to invest $200 million to build a state-of-the-art, fully automated electronics manufacturing center. A majority stake in Aivisio will be held and controlled by Alat Enernet.
Saudi Arabia is located not only in the heart of the Gulf, but also in the heart of the main ** routes that run through Europe, the Middle East and Asia, connecting more than 2 billion consumers in just a few hours. The Kingdom is accelerating the adoption of the Fourth Industrial Revolution to strengthen its chain and logistics capabilities. In addition, Saudi Arabia has an abundance of clean energy, making it an ideal place for businesses seeking to produce in a sustainable and compliant manner. Saudi Arabia's Ministry of Energy is investing US$266 billion by 2030 to produce clean energy, including solar, wind and energy, paving the way for businesses aiming to achieve net-zero emissions.