(MENAFN- PR Newswire) RIYADH, Saudi Arabia, Feb. 20, 2024 /PRNewswire/ --
Dahua Technology, a world-leading video-centric AIoT solution and service provider, is set to develop its first overseas manufacturing facility through a strategic collaboration with Alat, a wholly-owned subsidiary of Public investment Fund (PIF) in Saudi Arabia.
This joint venture, Alat AIVisio technology Co. Ltd. (AIVisio), aims to create a highly automated manufacturing hub for industry-leading AIoT products and intelligent solutions in urban infrastructure and commercial areas, with a total investment of $200 million.
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![Mr. Amit Midha (Chief Executive Officer of Alat), Mr. Jason Zhao (Executive President of Dahua Technology) and other senior executives from both companies attended the signing ceremony.]( "Mr. Amit Midha (Chief Executive Officer of Alat), Mr. Jason Zhao (Executive President of Dahua Technology) and other senior executives from both companies attended the signing ceremony.")
Mr. Amit Midha (Chief Executive Officer of Alat), Mr. Jason Zhao (Executive President of Dahua Technology) and other senior executives from both companies attended the signing ceremony.
Alat has been established to create a global business in electronics and advanced industries. It is mandated to partner with global technology leaders to transform industries while establishing world-class businesses in the Kingdom, powered by clean energy.
Dahua has utilized digitalization to create efficient, intelligent, flexible and reliable supply chains for global customers. This cooperation is an important step for Dahua to localize manufacturing and further enhance supply capabilities for global expansion.
Mr. Jason Zhao, Executive President of Dahua Technology, underscored the role of the digital economy in driving industrial upgrading and sustainable economic innovation on a global scale. As one of the first AIoT companies to enter the international market, Dahua has developed worldwide businesses in more than 180 countries and regions. Highlighting Dahua's strategic significance in the Saudi Arabian market, he said, "Our partnership with Alat is a long-term win-win strategic initiative. It aligns with our business goals of green, low-carbon, and sustainable development. Based on Dahua's expertise in digital manufacturing and talent management, together with Alat's support, I believe we can jointly set a new benchmark for the world's leading AIoT industry. Through our joint efforts, we can effectively contribute to the well-being of the region and the world. "
"Alat is proud to partner with Dahua, a world leader in video-centric AIoT solutions. We have great ambitions to take Smart City and Smart Enterprise solutions, made in the Kingdom, to both local and international markets. Dahua's mission coincides well with our goal to drive and execute a vision of creating global sustainable technology, manufactured in the Kingdom," said Mr. Midha, CEO of Alat.
This strategic partnership marks an important milestone in Saudi Arabia's Vision 2030. While continuing to expand its global presence, Dahua will further leverage its digital innovation capabilities, improve manufacturing quality and scale with clean energy, and empower sustainable transformation of the industry.
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