Canoo Signs Exclusive Agreement with GCC Olayan for Fleet Solutions in Saudi Arabia

JUSTIN, Texas and RIYADH, Saudi Arabia – High-tech advanced mobility company, Canoo, has signed an exclusive agreement with GCC Olayan, a leading multi-national subsidiary of Olayan Saudi Holding Company, for the sale, service, and distribution of Canoo fleet solutions in Saudi Arabia. GCC Olayan has been a distributor of premier brands in Saudi Arabia for over 75 years and is the founding company of the Olayan Group.

Under the agreement, Canoo and GCC Olayan will work together to develop a joint venture to launch a digital vehicle ecosystem for service maintenance, repair, local assembly, and eventually manufacturing. The first phase of the agreement is for the sale, distribution, service maintenance, and repair of Canoo vehicles.

Canoo vehicles are built on the company’s proprietary multi-purpose platform (MPP) architecture that integrates all high-tech components such as the motors, battery module, and other critical driving components. Engineered with true steer-by-wire technology, Canoo vehicles have reduced moving parts and cabin intrusion, resulting in more usable interior space, better driver ergonomics, and the addition of a panoramic window to improve road visibility. The modular design also facilitates the ability to localize the offering and provides for a scalable local manufacturing approach.

Tony Aquila, Chairman & CEO at Canoo, said, “It has been an honor to work with the Olayan group companies over many years. Our agreement to bring Canoo’s award-winning vehicles to the region is grounded in our mutual commitment to customer service. The Olayan Group is a global business leader with decades of experience in distribution partnerships with some of the world’s leading brands and they are a proven partner to support EVs in the region.”

Uwaidh K. Al-Harethi, CEO of Olayan Saudi Holding Company, commented, “We recognize that there is a growing demand for sustainable mobility solutions in Saudi Arabia, partly driven by the Kingdom’s launch of the Saudi Green Initiative and its pledge to achieve net zero by 2060. With that in mind, we are pleased to sign the product and service distribution agreement with Canoo and are proud to be the exclusive distributor of its electric vehicles in our market.”

The new partnership will combine GCC Olayan’s over 75 years of experience in the automotive and adjacent sectors with Canoo’s innovative electric vehicle technology to cater to this need in the market and contribute to global efforts to tackle carbon emissions as well as to Saudi Vision 2030’s sustainability goals.

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