On June 22, Beijing time, witnessed by Wu Guiying, member of the Standing Committee of the Hunan Provincial Party Committee and Secretary of the Changsha Municipal Party Committee, Sara Sayed, Deputy Minister of Investment of Saudi Arabia, and He Song, Minister Counselor of the Chinese Embassy in Saudi Arabia, ZMEV LIMITED and NASMAT AL-HUMAIS TRADING held a grand signing ceremony in Riyadh, Saudi Arabia, officially announcing their joint investment and construction of a new energy commercial vehicle SKD factory in Shattayif. This signing not only marks a substantial step forward in the deep cooperation between the two sides in the field of new energy vehicles, but also sets a new milestone for China and Saudi Arabia in the cooperation of the new energy industry.

The signing ceremony was held during the period when Changsha Municipal Party Secretary Wu Guiying returned to Saudi Arabia to continue her international exchange and cooperation program after concluding her visit to France. The attendance of Secretary Wu Guiying fully reflects the high importance that Changsha attaches to international cooperation and exchanges, and injects strong confidence and motivation into the cooperation between the two companies, highlighting the close ties and broad prospects of economic and trade cooperation between China and Saudi Arabia.

At the signing ceremony, Liu Yanjun, Vice President of ZMEV, as the signing representative, signed a cooperation agreement with NASMAT company representatives. Both parties will jointly invest in the construction of a modern new energy commercial vehicle SKD factory in Shattayif city, mainly producing pure electric and plug-in hybrid medium-sized vans with a capacity of 6.0-8.0 cubic meters to meet the urgent demand for green and efficient transportation in Saudi Arabia and the Central and Northeast Africa region. The factory is planned to be built in three phases, with the first phase having an annual production capacity of 5000 units, and the subsequent production capacity will gradually expand as the project progresses and the market expands. NASMAT will also provide support in areas such as government licensing, land supply, factory construction, and local employee recruitment to ensure the smooth implementation of the project and achieve expected results.

ZMEV has been committed to continuously promoting technological innovation and market expansion in new energy vehicles. This cooperation with NASMAT will integrate the technology, resources, and market advantages of both parties, promote the entry of Chinese new energy vehicles into the Saudi Arabian and Middle East North African markets, provide environmentally friendly and efficient travel solutions for the local area, and achieve mutual benefit and win-win results.