Australia-based Avass Group signs MoU with HRH Prince of Saudi Arabia to manufacture electric vehicles, lithium batteries

Australia-based Avass Group recently announced that they have signed an
agreement with Saudi Arabia to jointly manufacture electric vehicles and
lithium batteries.

The Group have endorsed a Memorandum of Understanding (MoU) with HRH Prince
Abdulaziz Bin Abdullah Bin Saud Bin Abdulaziz Al Saud in the capital city of
Riyadh on December 19. The agreement bolsters Avass Group’s plans to mass
manufacture Full Electric Buses and Lithium Batteries in Saudi. The
partnership stems from the consideration of strategic advantage that Saudi
Arabia has due to its location at a central point between both Asia and
Europe.

Given the increasing consumer awareness of environmental protection and in
view of recent development trends of the electric vehicle industry, Avass
Group is targeting the huge potential in global electric vehicle market.

Dr. Allen Saylav, Group Chief Executive Officer at Avass said, “At a time
when more and more countries are trying to reduce their carbon footprint,
it’s imperative to boost manufacturing of EVs to meet this goal. Saudi
Arabia stands at a central point between Asia and Europe which gives it a
strategic location advantage as a production hub.”

“The agreement will also greatly assist the trade relationship between Saudi
Arabia and India and help Avass to provide an integrated solution for
batteries, EVs,” he added. Recently, Saudi Arabia had announced that at
least 30% of the cars in its capital would be electric by 2030, as the
world’s biggest oil exporter has been trying to reduce planet-warming
emissions.

The Melbourne-based Avass brand has established its legacy through its
commitment to deliver a vast array of research and development technology
throughout its locations in Australia, India, Singapore, Indonesia and Saudi
Arabia. With a strong presence of dedicated supply chain, the Group is
exploring different market opportunities and creating economies of scale.

The partnership with Saudi Arabia will be an extension of the Group’s
pursuit of cutting-edge technologies to transform the world by creating a
clean energy ecosystem. In 2019, when Avass became a subsidiary of the DFT
Group Pty Ltd, it strengthened its commitment to continuing technology
development by producing a vast array of electric vehicles, components, and
lithium-ion batteries.

The DFT Group Pty Ltd is a broad-based international business conglomerate
engaged in diverse business sectors, with emphasise on advancing the causes
of clean and renewable energy projects and initiatives. The Avass Touring
Bus holds the Guinness World Record for an Electric Bus travelling more than
1,000 km on a single charge, and Avass is also the first Australian Electric
Vehicle manufacturer to obtain a World Manufacturer ID (WMI).