Alliance 2022, a six-year plan announced recently, has set a new target to double annual synergies to €10 billion ($12 billion) by the end of the plan.
Groupe Renault, Nissan Motor and Mitsubishi Motors represent the world’s largest automotive alliance.
Carlos Ghosn, chairman and chief executive officer of the Alliance, said: “Today marks a new milestone for our member companies. By the end of our strategic plan Alliance 2022, we aim to double our annual synergies to €10 billion. To achieve this target, on one side Renault, Nissan and Mitsubishi Motors will accelerate collaboration on common platforms, powertrains and next-generation electric, autonomous and connected technologies. From the other side, synergies will be enhanced by our growing scale. Our total annual sales are forecast to exceed 14 million units, generating revenues expected at $240 billion by the end of the plan.”
Under Alliance 2022, the member companies will increase their use of common platforms, with nine million units based on four common platforms. The plan will also extend the use of common powertrains to 75 percent of total sales.
Alliance 2022 plans a major expansion in shared electric vehicle technologies, alongside the development and deployment of advanced autonomous drive systems, vehicle connectivity and new mobility services.
Twelve new zero-emission electric vehicles will be launched by 2022, utilizing new common electric vehicle platforms and components for multiple segments. Over the same period, 40 vehicles will be introduced with different levels of autonomy, all the way to fully autonomous capability. Becoming an operator of robo-vehicle ride-hailing services is a major part of the new mobility services strategy.
The launch of a new logo and online presence was also revealed for the Alliance.
Ghosn said: “This plan will boost the growth and profitability of our member companies. We intend to deliver on growing synergies, with three autonomous companies cooperating with the efficiency of one. The Alliance has grown and performed with two members since 1999. With Alliance 2022, we will prove that we will grow and perform with three companies or more.”
Renault Nissan Mitsubishi alliance outlines 2022 plan
Renault Nissan Mitsubishi alliance outlines 2022 plan
SAB wins ‘Corporate Innovation Award 2024’ from Qorus
Saudi Awwal Bank, one of the leading banks in the Kingdom, has been awarded the “Corporate Innovation Award 2024” from Qorus, for the second consecutive year for its SAB Innovation Excellence Initiative. The award was presented during the Qorus Reinvention Awards ceremony in Dubai.
Competing with more than 700 organizations, SAB secured its place, reflecting its ongoing commitment to developing and implementing the bank strategies aligned with its vision. The SAB Innovation Excellence Initiative honors the bank’s innovative projects and their teams. This award is a recognition of SAB’s continuous efforts to accelerate the financial innovation sector in line with Saudi Vision 2030, a strategic framework aimed at building a diverse and sustainable economy.
Saeed Assiri, chief innovation officer at SAB, said: “Receiving this award reflects our unwavering commitment to fostering innovation, a cornerstone of our strategy. It also highlights our investment in research and development, as well as our adoption of cutting-edge technologies to drive financial innovation. We believe innovation is the key to progress and success, and we will continue to deliver more advanced and effective financial solutions for our customers.”
This recognition further solidifies SAB’s position as a leading financial institution as it works toward achieving its vision: “We bring a world of financial opportunities to an ambitious Kingdom.”
With its innovative services, global reach, and deep market understanding, the bank continues to provide its customers with the best banking experience.
Dan Company inks deal with Abdulmohsen Al-Tamimi Company for Al-Ahsa luxury resort
Dan Company, a PIF company specializing in agritourism, ecotourism, and adventure tourism, has signed a contract with Abdulmohsen Al-Tamimi Contracting Company to develop Dan’s flagship destination in the Al-Ahsa governorate, under its local hospitality brand Tuaja Luxury Resorts.
The signing ceremony was held at the company’s headquarters in Riyadh, in the presence of Mr. Saad Abdulaziz Al-Kroud, chairman of the board of directors of Dan Company, and Yousef Abdul Mohsen Al-Tamimi, chairman of the board of directors of Abdulmohsen Al-Tamimi Contracting Company. The contract was signed by Abdulrahman Abaalkhail, CEO of Dan Company, and Mohammed Abdul Mohsen Al-Tamimi, CEO of Abdul Mohsen Al-Tamimi Contracting Company.
The project marks a milestone in the company’s mission to enhance the tourism sector and elevate the quality of services in the Kingdom’s hospitality sector by developing resorts that combine sustainability, innovation, and authentic hospitality. The project also contributes to strengthening Al-Ahsa’s position as an attractive destination for both local and international tourism.
Al-Kroud said: “We are pleased to announce the new resort, which aligns with the Kingdom’s efforts to enhance its hospitality and tourism offerings locally and internationally and reaffirms our commitment to contributing to the development of the tourism sector by leveraging the Kingdom’s enchanting natural landscapes and showcasing it’s rich natural diversity through agri, eco, and adventure tourism.”
He added: “It is our pleasure to partner with Abdulmohsen Al-Tamimi Contracting Company, a leading company in the Eastern Province, to develop our flagship project under the Tuaja Luxury Resorts brand. This collaboration reflects our shared vision for the future and commitment to excellence. Together, we look forward to Tuaja Resorts becoming a symbol of sustainability and innovation in the Kingdom.”
The project is a pioneering initiative that highlights Al-Ahsa’s stunning natural beauty and rich cultural and agricultural heritage. It offers three distinctive experiences that cater to different needs: luxury and exploration at the Tuaja Premium Farm Resort, tranquility and contemplation at the eco-friendly resort of Tuaja Eco Resort, and adventure and excitement at the Tuaja Adventure Resort.
Yousef Al-Tamimi highlighted the track record of Abdulmohsen Al-Tamimi Contracting Company in developing pioneering projects that achieve a balance between innovation and sustainability. He said: “We are delighted to collaborate with Dan Company on this exceptional project, which underscores our unwavering commitment to shaping a sustainable future and actively contributing to the goals of Saudi Vision 2030.”
Spanning 1.8 million square meters, the resort will feature 201 accommodation units, from hotel rooms to high-end villas, some with private pools. Every aspect of the resort is carefully designed to reflect the unique character of Al-Ahsa, offering diverse experiences catering to guests’ needs in agritourism, ecotourism, and adventure tourism.
Guests will enjoy a range of exceptional facilities and services including a wide variety of dining options, a “farm-to-table” experience, a luxurious spa, a vibrant central activity area, a community center supporting local artisans, an event hall, and state-of-the-art sports facilities. This aligns with Dan’s commitment to inclusive tourism experiences focused on preserving the environment and empowering the community.
Dan Company places environmental conservation and sustainability at the heart of the project and seeks the Leadership in Energy and Environmental Design certification out of its keenness to protect the local environment. The resort blends modern sustainability practices with local traditions, with a focus on preserving the region’s rich natural heritage and culture.
The project is expected to boost the local economy, create jobs, and enhance Al-Ahsa’s status as a tourist destination. The contract underscores the shared ambition of both parties to redefine hospitality and tourism in Saudi Arabia. It is Dan Company’s first project in the Kingdom, leveraging the extensive experience of Abdulmohsen Al-Tamimi Contracting Company, which is one of the main contractors in a number of leading projects in Saudi Arabia such as Red Sea Global, NEOM and Qiddiya.
As a pioneering initiative, this project exemplifies Dan’s innovative approach to tourism and hospitality and sets a new standard for the development of destinations in the Kingdom and beyond, with a unique blend of luxury, sustainability, and community empowerment.
Monsha’at report spotlights notable progress in Saudi publishing industry
Monsha’at, Saudi Arabia’s General Authority for Small and Medium Enterprises, has released its latest quarterly SME Monitor, which highlights recent developments in the Kingdom’s dynamic SME ecosystem, from an increase in commercial registrations to a special chapter on its burgeoning publishing industry, which now has over 500 local publishing houses bringing Saudi and other Arabic-language authors to new audiences.
The report shows that since the launch of the Literature, Publishing, and Translation Commission in 2020, the Kingdom’s publishing industry has seen growth across a number of key metrics, from the number of publishing houses to the 2.2 million visitors that attended Saudi book fairs in 2023. Notably, the Riyadh Book Fair, the commission’s flagship event, featured works from 30+ countries and 2,000 publishing houses, helping attract over a million visitors and delivering $7.5 million in book sales.
The chapter also highlights key initiatives by the commission to empower Saudi SMEs and entrepreneurs become better literary agents, forge literary partnerships with civil society and local cafés, learn and adopt best practices from international publishing houses, and develop better professional print and digital-facing publishing skills.
As a key enabler of the local publishing sector, efforts by Saudi Arabia’s Literature, Publishing and Translation Commission have been key to this progress, the report shows. “The commission has launched five business accelerators that have benefitted over a hundred SME projects whose average revenues increased by 20 percent and created 115 new permanent jobs,” said its CEO Dr. Mohammed Hasan Alwan. “Thanks to 54 public and private partnerships, the Kingdom has been able to attract regional and global publishing houses to the Saudi market to enrich local production, enable diverse experiences, and enhance the local market’s professionalism and competitiveness.”
In addition to its coverage of Saudi publishing trends, the latest SME Monitor also has a special section on global developments in the SME publishing space. These include new business models serving the more than 1 billion ebook consumers around the world, from the huge growth in digital, audiobooks, and direct-to-consumer subscription models to self-publishing and do-it-yourself models that SMEs stand to benefit from.
In its survey of broader SME developments across Saudi Arabia, the report also reveals a notable uptick in commercial registrations in Q3 2024, a key indicator of the country’s robust entrepreneurial landscape. In addition to a quarter-over-quarter growth, the 135,909 new registrations marked a significant year-over-year increase. Almost half of these registrations came from female entrepreneurs, and nearly 40 percent were from young business owners, highlighting the extensive impact of the Kingdom’s diversification efforts.
Thanks to the variety of enablement, financing, franchising, innovation, and business development programs offered by Monsha’at, more than 25,000 Saudi SMEs also benefitted from the Kingdom’s chief SME enabler in Q3 2024, the report shows. Saudi Arabia’s VC funding ecosystem continued to lead MENA through the first three quarters of 2024, with $509 million deployed to Saudi-based startups over 104 deals in the first nine months of the year.
New Murabba partners with NCVC for sustainable development
New Murabba Development Company signed a memorandum of understanding with the National Center for Vegetation Cover Development and Combating Desertification in a landmark agreement for sustainable urban development. This strategic partnership underscores New Murabba’s unwavering commitment to environmental stewardship and its ambitious goal of achieving net-zero emissions by 2060, which aligns with Saudi Arabia’s national objective.
The collaboration will implement innovative solutions for vegetation cover development, desertification control, and biodiversity enhancement throughout New Murabba.
This initiative will create a greener and more sustainable urban environment and serve as a model for future developments across the Kingdom. The MoU was formally signed by Michael Dyke, chief executive of New Murabba Development Company, and Dr. Khaled bin Abdullah Alabdulqadir, chief executive of the NCVC.
Dyke said: “Through this collaboration, we anticipate the opportunity to exchange valuable experiences regarding the implementation of mutually agreed-upon joint programs and projects focused on afforestation and the enhancement of green spaces in designated areas within Saudi Arabia. Additionally, we aspire to strengthen our partnership with the center to facilitate a coordinated approach in operationalizing the necessary procedures and measures to preserve the ecosystem and natural vegetation.”
This collaboration, a key component of New Murabba’s comprehensive ESG strategy, will extend over three years and focus on pioneering research, innovative green vegetation strategies, and community engagement. As the future of downtown living, New Murabba is dedicated to setting a global benchmark for sustainable urban development by integrating leading-edge environmental practices into the core of its design and operations. The partnership exemplifies this commitment and will contribute significantly to creating a vibrant, sustainable, and carbon-neutral urban ecosystem.
The MoU also signifies New Murabba’s commitment to pioneering innovative solutions for sustainable urban development. By integrating green infrastructure and prioritizing environmental stewardship, New Murabba is contributing to the UN Sustainable Development Goals, particularly Goal 11 (sustainable cities and communities) and Goal 13 (climate action), while setting a new global standard for future cities.
Saudi-based content creators explore the best of Indonesia
Six Saudi Arabia-based content creators recently embarked on a week-long journey to Indonesia, immersing themselves in the country’s vibrant cultural heritage and stunning natural beauty. Organized by the Indonesian Consulate General in Jeddah, the trip took place from Nov. 30 to Dec. 6, and spotlighted the diverse attractions of Jakarta, Bogor, and Bali.
The group featured social media content creators, including Muath Alamri, Abdalhadi Alkhodari, Hussein Huraibi, Ibrahim Hakami, Yaser Taher and Jawad Mohammed. Their participation was part of a cultural and tourism initiative aimed at leveraging social media to strengthen ties between Saudi Arabia and Indonesia while also promoting Indonesia’s rich traditions and diverse attractions to audiences in the Kingdom.
The journey began in Jakarta, where the content creators participated in the city’s lively Car Free Day. This weekly event transforms the bustling streets of Jakarta into vibrant hubs for jogging, cycling, and various sports activities on Sunday morning.
The group then delved into Indonesia’s UNESCO-recognized cultural heritage. They attended a jamu workshop, where they learned to craft the traditional herbal drink celebrated for its health benefits. Additionally, they experienced the intricate artistry of batik, Indonesia’s iconic fabric, and wayang, the traditional art of shadow puppetry, and also toured the historic Batavia Old Town.
Their journey continued in Bogor, where the lush greenery of Taman Safari Indonesia offered a thrilling wildlife adventure. There, the group enjoyed a safari tour and interacted closely with exotic animals. This experience showcased Indonesia’s commitment to wildlife conservation and ecotourism.
The content creators concluded the journey in Bali, Indonesia’s most famous destination. The group visited the picturesque landscapes of Nusa Penida, a one-day trip destination from Bali’s mainland known for its pristine beach and dramatic cliffs. They also enjoyed adrenaline-fueled activities such as ATV riding and river rafting in Ubud. The combination of serene natural beauty and exhilarating adventures provided a memorable end to their journey.
This initiative underscores Indonesia’s innovative approach to promoting its cultural and tourism sector by leveraging the power of social media content creators to share the country’s diverse attractions and beauty with their audiences, inspiring more people to explore its captivating landscapes and vibrant culture.
The collaboration between the Indonesian Consulate in Jeddah and these Saudi Arabia-based content creators showcased Indonesia as a must-visit destination, further strengthening cultural and tourism ties between the two nations.
