TASARU, a PIF company established to advance Saudi Arabia’s mobility sector, has announced signing a binding agreement to invest in P3, a Croatian mobility solutions company.
P3 is focused on creating next-gen technology solutions for urban autonomous mobility. P3 is developing an innovative ecosystem consisting of an autonomous electric vehicle, specialized infrastructure, and a mobility service platform, including a mobile application. Fueled by a passion for innovation, the experienced team behind the project aims to significantly improve mobility patterns and transportation systems in urban areas and promises a service that will keep streets safer and cleaner with more efficient transportation experiences while enhancing community well-being. P3 has already signed agreements with 9 cities and is in negotiations with 30 other cities worldwide.
In addition to TASARU, P3 has received investments from strategic partners such as Rimac Group and Kia.
Michael Mueller, CEO of TASARU, said: “We are excited to announce this partnership with P3, setting a strong foundation for our investment strategy as we look to provide growth capital to promising companies developing future-focused technology.
P3 has an experienced and committed team with a proprietary autonomous vehicle prototype and ride-hailing platform developed to cater to the expected global future adoption of robo-taxis. The company is already looking to expand into MENA and Europe, and TASARU has initiated discussions with P3 management to set up a local footprint in KSA.”
Marko Pejković, CEO of P3, said: “We are very happy to bring on board such a strong investor, which is backed by one of the world’s largest sovereign wealth funds – Public Investment Fund of the Kingdom of Saudi Arabia. Through intense discussions and meetings, we understood that the two teams share the same ambition – to create radically better mobility in our cities. The team from TASARU is the perfect long-term partner to support achieving this bold vision.”
This strategic investment represents a pivotal milestone in TASARU’s ongoing evolution and aligns with Saudi Arabia’s ambitious vision for a smarter and more sustainable future. By forging impactful partnerships with cutting-edge entities like P3, TASARU is actively positioning the Kingdom as a key player in the global mobility landscape. This not only underscores TASARU’s commitment to advancing the nation’s mobility sector but also contributes significantly to the realization of Saudi Arabia’s long-term goals in line with Vision 2030.