TASARU Mobility Investments intends to acquire minority stake in HOLON business for nine-digit sum
Investment secures series development and industrialization of the autonomous, fully electric and inclusive shuttle
Construction of three production plants planned in Europe, Saudi Arabia and the USA
SALZBURG, Austria, PADERBORN, Germany and RIYADH, Saudi Arabia, Feb. 7, 2024 /PRNewswire/ — The BENTELER Group is about to secure a multi-million-dollar investment to expand its autonomous mover business: TASARU Mobility Investments, a Saudi Arabian investment company specializing in automotive initiatives, intends to acquire a minority stake in the BENTELER subsidiary HOLON for a nine-digit sum. The management of both companies signed a respective agreement.
In the back of the picture (from left to right): Joseph Kirikian (Chief Investment Officer TASARU), Muhammad AlShiha (Deputy Chairman Board of Directors TASARU), Dr. Tobias Braun (Chief Financial Officer BENTELER Group), Dr. Henning von Watzdorf (Chief Executive Officer HOLON); In front of the picture (from left to right): Michael Mueller (Chief Executive Officer TASARU), Ralf Göttel (Chief Executive Officer BENTELER Group)
From left to right: Dr. Henning von Watzdorf (Chief Executive Officer HOLON), Joseph Kirikian (Chief Investment Officer TASARU), Ralf Göttel (Chief Executive Officer BENTELER Group), Michael Mueller (Chief Executive Officer TASARU), Muhammad AlShiha (Deputy Chairman Board of Directors TASARU), Dr. Tobias Braun (Chief Financial Officer BENTELER Group)
The planned acquisition of a stake of up to 38% in HOLON by TASARU will occur in several tranches, with the first one expected in April. The transaction is subject to the necessary regulatory approvals.
The funds from TASARU will be used to further advance the series development and industrialization 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 USA.
Ralf Göttel, CEO of the BENTELER Group: “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.”
The HOLON Mover is a fully electric, autonomous vehicle for use on public roads. It is one of the world’s first movers built to automotive standards – in other words, a leader in safety, ride comfort and production quality. The vehicle travels at a maximum speed of 60 kilometers per hour and can accommodate up to 15 passengers. Areas of application are on-demand services such as ridepooling and ridehailing, but also normal scheduled services.
Michael Mueller, CEO of TASARU: “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, added: “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.”
The HOLON Mover is barrier free, offering an automated ramp, secured wheelchair space, and auditory and visual assistance for passengers. The design comes from renowned design company Pininfarina and the autonomous driving technology from the Intel subsidiary Mobileye. One of the first pilot projects for the use of the vehicle is the city of Hamburg, Germany. The Federal Ministry of Digital and Transport recently provided €26 million funding for a corresponding project.
About BENTELER BENTELER is a global company serving customers in automotive technology, the energy sector and mechanical engineering. As metal processing specialists, we develop, produce and distribute safety-related products, systems and services worldwide.
Our around 23,000 employees at 87 locations in 26 countries offer first-class manufacturing and distribution competence – all dedicated to delivering a first-class service wherever our customers need us.
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About HOLON HOLON is a subsidiary of BENTELER. With well-founded know-how in automotive technology and industrialization as well as the continuous implementation of new technologies for electromobility, the company develops autonomous movers for the vehicle market of the future. To do this, HOLON works with technology companies, local public transport companies and mobility-as-a-service providers.
Contact details:
Stephan Knüttel
Vice President Communications/Marketing
Paderborn, Germany
Tel.: +49 5254 81 307 610 | Mobile: +49 172 5727 257
E-Mail: public.relations@benteler.com
Harald Weber
Communications Specialist
Salzburg, Austria
Tel.: +43 662 2283 101047 | Mobile: +43 664 8235 605
E-Mail: public.relations@benteler.com
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