- SoftBank Group and Alat forge a groundbreaking partnership to pioneer next-generation industrial automation in Saudi Arabia, aiming to revolutionise global manufacturing.
- With a joint investment of up to US$150 million, the JV plans to establish a state-of-the-art manufacturing hub in Riyadh by December 2024, poised to produce innovative industrial robots.
- This strategic collaboration underscores Saudi Arabia’s commitment to sustainable manufacturing and marks a pivotal moment in the evolution of future manufacturing landscapes.
In a landmark move set to revolutionise manufacturing, SoftBank Group Corp. (“SoftBank Group”) has entered into a strategic partnership with Alat, a PIF company spearheaded by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, aimed at establishing a cutting-edge industrial automation business in the Kingdom of Saudi Arabia.
Headquartered in Riyadh, Alat has been meticulously crafted to emerge as a global leader in electronics and advanced industrial segments. With an impressive investment budget of US$100 billion, Alat is poised to collaborate with top-tier technology leaders to drive industry transformation, all powered by sustainable clean energy initiatives.
A joint investment commitment of up to US$150 million
Alat proudly unveils the inception of a joint venture (“JV”) with SoftBank Group, dedicated to the manufacturing of revolutionary industrial robots poised to redefine manufacturing processes worldwide. With a joint investment commitment of up to US$150 million, the partners are set to inaugurate a state-of-the-art automated manufacturing and engineering hub in Riyadh by December 2024, catering to both local and global demands.
Amit Midha, CEO of Alat, envisions this collaboration as a catalyst for global manufacturing, emphasising the monumental market potential for robotics across the Kingdom, the Gulf region, and beyond. Midha projects a staggering contribution of 1 billion dollars to Saudi Arabia’s GDP by 2025, underscoring their ambition to reshape industrial manufacturing paradigms through locally manufactured robots.
Son highlights Saudi vision and sustainability in manufacturing partnership
The combination of Saudi Arabia’s vision, economic growth, and leading logistics location coupled with abundant access to green energy and Alat’s mandate to manufacture sustainably, made this strategic partnership between us very compelling.
Masayoshi Son, Chairman and CEO of SoftBank Group
Masayoshi Son, Chairman and CEO of SoftBank Group, said: “The combination of Saudi Arabia’s vision, economic growth, and leading logistics location coupled with abundant access to green energy and Alat’s mandate to manufacture sustainably, made this strategic partnership between us very compelling. Today’s announcement marks a historic milestone for how future manufacturing will take place.“
The newly established JV is poised to leverage SoftBank Group’s intellectual property to develop industrial robots capable of performing tasks with minimal programming, tailored for diverse industrial applications. Positioned as a beacon of innovation, the robot manufacturing facility envisioned by the JV will harness the latest technologies to produce next-generation robots capable of a myriad of functions.
As Saudi Arabia embarks on extensive infrastructure investments, signalling a transition towards Fourth Industrial Revolution applications, Alat remains steadfast in its mission to drive carbon-zero manufacturing practices, with sustainability at the core of its endeavours. With ambitions to propel Saudi Arabia towards a future powered by clean energy and cutting-edge technology, SoftBank Group’s and Alat’s partnership heralds a new era in global manufacturing excellence.
About SoftBank Group
The SoftBank Group invests in breakthrough technology to improve the quality of life for people around the world. The SoftBank Group is comprised of SoftBank Group Corp., an investment holding company that includes stakes in AI, smart robotics, IoT, telecommunications, internet services, and clean energy technology providers, as well as a majority stake in Arm Holdings plc, which is building the future of computing; and the SoftBank Vision Funds and SoftBank Latin America Funds, which are investing more than US$160 billion to help extraordinary entrepreneurs transform industries and shape new ones.
