Recently, the China-Arab Cooperation Forum was held in Riyadh, the capital of Saudi Arabia. The two sides signed a number of investment agreements with a total value of more than 10 billion yuan on the first day of the meeting. One of the most concerned projects is undoubtedly the cooperation project between the Saudi Ministry of Investment and the Chinese travel technology company Human Horizons. The two sides are said to have signed a $5.6 billion agreement to establish a joint venture engaged in vehicle research and development, manufacturing and sales.

  As the world's largest oil exporter, Saudi Arabia has invested heavily in the electric vehicle industry in order to get rid of its single dependence on oil by investing in non-oil industries and establishing diversified industries. In Saudi Arabia's ambitious "Vision 2030" plan, the development of the electric vehicle industry is an important part of it.

  In addition to investing in foreign car brands, Saudi Arabia is also betting heavily on local electric car brands. In November last year, Saudi PIF announced that it will cooperate with Foxconn and BMW to launch the electric vehicle brand Ceer. It plans to spend 69 million US dollars to build a new factory. The first model is expected to be put into production in 2025. Ceer will also become the first electric vehicle brand in Saudi Arabia.

  As an investment leader in the Middle East, based on its strong financial strength, Saudi Arabia's leading investment samples often represent the world's top vision and wealth-focused entities. From Saudi Arabia's investment in the field of electric vehicles, it is not difficult to find that it prefers luxury and high-end brands, and has strong product differentiation characteristics. Saudi PIF President Yasser Rumeyyan said in an interview with Barron's that Saudi Arabia is working with some of the best people in the world when it comes to electric vehicles and is committed to bringing these brands to Saudi Arabia to build factories. 

  It is reported that Saudi Arabia is expected to set up factories of several automobile brands in the King Abdullah Economic City. Founded in 2005, the economic city has a total development area of 173 square kilometers. It is located in the Mecca province on the coast of the Red Sea. It has excellent port advantages and is conducive to the development of trade and industry. According to previously released information, Saudi Arabia plans to produce 500,000 electric vehicles locally every year by 2030, becoming one of the largest automobile production bases in the Middle East.

  Since its birth, Gaohe has been strongly bound to the positioning of "high-end luxury" and "smart technology". On the one hand, the average transaction price of the dual flagship models HiPhi X and HiPhi Z exceeded RMB 600,000, raising the price of the entire domestic electric vehicle to a new level; The system, as well as the three-dimensional mech design of HiPhi Z, are forward-looking and eye-catching enough, and let more people know the brand.

  With the concept of science fiction, advanced technology and advanced ideas, Gaohe has become an upstart force that cannot be ignored in the current electric vehicle market, and such a high-end luxury brand with great personality is undoubtedly related to the car purchases of local Saudi consumers, The demand for cars also coincides with each other.

  After years of development, China's auto industry has grown from weak to strong, and has achieved solid accumulation, changing lanes and overtaking. Chinese auto brands are adopting a forward-looking vision and advanced layout to realize the new four-wheel drive of electrification, networking, intelligence, and sharing. It shows the Chinese people's brand-new thinking on the development of future automobiles.

  Saudi Arabia's large investment in Chinese electric vehicles this time will undoubtedly become an important milestone for Chinese cars to go overseas. With this as a symbol, we have reason to believe that future Chinese cars will make persistent efforts to create a new era of Chinese car brands in the world.