TASARU Mobility Investments, a Public Investment Fund (PIF) company aimed at boosting the automotive and mobility sector's growth in the Kingdom, said on Sunday that it signed a binding agreement to invest in Croatia-based Project 3 Mobility.
Project 3 Mobility focuses on developing next-generation technology solutions in autonomous mobility. It aims to create an integrated system comprising a self-driving electric vehicle, specialized infrastructure, and a platform for mobility services, including a mobile application.
TASARU CEO Michael Müller said that the agreement “lays a solid foundation for the company's strategy and its ambition to provide essential capital for the expansion of promising companies engaged in developing future technologies”.
