Maintenance Machinery Company announced the signing of a strategic framework agreement with Seer, the first Saudi electric vehicle brand, which is owned by the Public Investment Fund. This three-year agreement aims to supply sets of hand tools necessary for equipping Seer's service centers, with a contractual value of up to SAR 3,050,013.
Strategic context within Vision 2030
This partnership comes as part of Saudi Arabia’s ongoing efforts to localize advanced industries and diversify its economy away from oil, a cornerstone of Vision 2030. SIR, established as a joint venture between the Public Investment Fund and Taiwan’s Foxconn, is one of the leading national projects aiming to drive the electric vehicle sector in the region. Through the development of an integrated industrial ecosystem, SIR seeks to design, manufacture, and supply electric cars, sedans, and SUVs to the local and wider Middle Eastern markets, leveraging cutting-edge technologies licensed to BMW.
The importance of the agreement and its expected impact
This agreement is of paramount importance to both parties and to the local economy as a whole. For Maintenance Machinery Company, this contract represents a significant boost to its presence in the Saudi market and solidifies its position as a reliable supplier for major national projects. It also supports its expansion strategy by partnering with a leading company affiliated with the Public Investment Fund, opening new avenues for future growth.
For Seer, securing a strong and reliable local supply chain is a crucial step to ensuring the efficiency of its future operations, particularly in the after-sales service and maintenance centers sector. This collaboration guarantees that its centers are equipped with high-quality tools, which positively impacts the quality of service provided to customers and their confidence in the first Saudi electric vehicle brand.
At the national level, such agreements contribute to building an integrated value chain for the automotive industry in the Kingdom, and encourage more cooperation between local companies and mega projects, leading to the creation of new job opportunities, the transfer of knowledge and expertise, and driving industrial and economic development in line with the objectives of the Kingdom’s Vision 2030.
