Pirelli will create the joint venture on release of tires to Saudi Arabia

The project will be started together with local investment fund Sovereign fund Saudi Arabia (PIF) and Pirelli signed the agreement on creation of joint venture on release of tires in the territory of the country and construction new plant. PIF will receive a 75 percent share in the joint venture, and Pirelli with a 25 percent share will act as the strategic technological partner and will give to the project technical and commercial support. New plant, whose opening it is planned for 2026, will release tires for automobile cars under Pirelli brand, and also under the new brand intended for...