From May 7 to 8, CEO of KAG Group controlled by Princess, a royal HRHP Rima bint Abdullah bin Abdulaziz Al Saud of Saudi Arabia, visited Xuzhou, Jiangsu Province, and held a ten-year strategic cooperation negotiation and contract signing with Skyworth Automobile. Ms. Zhu Ping, co-founder and CEO of Kaiwo Group, Mr. Wu Longba, president and co-founder of Skyworth Automobile, attended the meeting.

The main business scope of KAG Group includes Saudi royal automobile transportation, new energy vehicles, Saudi data analysis and consultation, and more than 85% of Saudi municipal underground water pipes and water conservancy. The ten-year strategy signed with Skyworth Auto is divided into two stages. In the first stage, the first five-year cooperation business is planned to be RMB 10 billion, and in the second stage, the five-year cooperation will be further carried out depending on the situation in the first stage.

[Saudi KAG Group representative]

At the same time, KAG Group and Skyworth Automobile have reached cooperation on all new energy products, including passenger cars, overcharging stations and smart life. The cooperation includes that KAG Group will soon become the exclusive partner of Skyworth Automobile in Saudi Arabia.

Today, Skyworth Automobile is expanding overseas, setting up KD factories in key areas of the world, realizing joint operation with local governments, and the Middle East is one of the main construction areas of Skyworth Automobile KD factories. In the future, Skyworth's KD factory in Saudi Arabia will carry out in-depth cooperation with KAG and gradually sign various cooperation agreements. We will work together to accelerate the realization of the global carbon neutral vision and promote the high-quality development of green low-carbon industries.