Riyadh, Saudi Arabia –Ministry of Energy has announced the formation of a groundbreaking joint venture between Saleh Suleiman Alrajhi & Sons and Foxconn Interconnect Technology (FIT), a highly esteemed global manufacturer to support the Kingdom's Vision 2030. The partnership aims to produce Saudi-made electric vehicle (EV) charging stations, strengthening Saudi Arabia’s leadership in renewable energy and technological innovation.

This partnership is endorsed by Prince Abdulaziz bin Salman Al-Saud, Minister of Energy; Mr. Bandar Alkhorayef, Minister of Industry and Mineral Resources; and Mr. Hamad Al Sheikh, a government minister, reflecting strong support from the Saudi authorities

On behalf of Saleh Suleiman Alrajhi & Sons, Next Charger, the company’s subsidiary, has accumulated highly respected experience in the local charging pile industry. The collaboration with major European brands and local distributors has contributed extensive practices which will be leveraged in the joint venture, providing valuable insights and proven strategies for success.

The signing ceremony is inaugurated by H.H. Prince Fahad bin Nawaf Al Saud who emphasized his shared vision under the leadership of HRH the crown prince Mohammad Bin Salman. “We are committed to creating a sustainable and diverse future for the Kingdom,” Prince Fahad declared. By sharing his perspective as a forward-thinking entrepreneur and prestigious market leader, H.H.Prince Fahad envisions the joint venture as pivotal in driving the growth of electric mobility across Saudi Arabia.

FIT, a subsidiary of Foxconn Technology Group, has comprehensive charging solutions evidencing its excellent design capability for power modules and top-notch manufacturing capability. “By reducing the Kingdom’s reliance on imports and fostering domestic expertise, we can boost job creation and enhance the country’s technological self-sufficiency. Partnering with FIT is a strategic step toward local manufacturing,” Said Suleiman AlRajhi, Chairman of Saleh Suleiman Alrajhi & Sons.

FIT has already achieved significant milestones, including the certification of its AC charger by the Saudi Standards, Metrology and Quality Organization (SASO). Their award-winning design team, recipient of the 2024 IF Design Award and Red Dot Award, will bring unparalleled customization options to the joint venture, tailoring charger designs to meet market preferences. Louie Yeh, Head of FIT’s charging pile business, commented: “Our joint venture will prioritize the development of high-quality charging stations designed for optimal performance in Saudi Arabia’s unique environmental conditions. Given the intense sunlight, our products underwent UV testing to ensure durability.”

The signing ceremony also underscored the partnership’s broader impact, extending beyond technological innovation to focus on talent development for the Kingdom’s future. Mr. Andreas Cangellaris, Founding President of NEOM University, was in attendance, reuniting with Sidney Lu, Chairman & CEO of FIT. Both men share a strong connection to the University of Illinois Urbana-Champaign (UIUC), where Lu’s contributions led to the renaming of the Mechanical Engineering Building in his honor, and where Mr. Cangellaris previously served as Provost before joining NEOM.

This joint venture not only represents a critical step forward for the Kingdom’s renewable energy sector but also underscores a commitment to shaping the next generation of skilled professionals. "Through this partnership, we aim to drive innovation in EV charging solutions while cultivating local talent, aligning with Vision 2030’s goals of creating a sustainable, diversified economy," the companies jointly stated.


About Saleh Suleiman Alrajhi & Sons
Saleh Suleiman Alrajhi & Sons, established in 2011, is a prominent and well-established family business in Saudi Arabia. Their business dates back to 1957 when the world’s first Islamic bank was established. Over the years, the family has played a significant role in the country’s economic reforms and initiatives.
With a diverse portfolio spanning healthcare, construction, steel and manufacturing, and technology, Alrajhi is driving growth through strategic partnerships with global industry leaders, embracing innovative practices, and incorporating a range of perspectives to boost its competitiveness on the international stage. The company also invests in promising future technologies that align with Vision 2030.

About Foxconn Interconnect Technology (FIT Hon Teng)
Foxconn Interconnect Technology (HKEX: 6088) was listed on the Hong Kong Stock Exchange in 2017 and is the largest consumer electronics connector manufacturer in Greater China. While connectors remain its core business, the company has strategically expanded in recent years into 5G AIoT, electric vehicles, and acoustic electronic components, while also entering the consumer brand sector. For more information, please visit the company’s website at www.fit-foxconn.com

[Taipei, June 17, 2024] – Foxconn Interconnect Technology Ltd ("FIT", listed on the Hong Kong Stock Exchange under 6088), a subsidiary of Hon Hai (TW.2317), is expanding its presence in the electric vehicle (EV) sector. Following the acquisition of Germany's SWH Group in 2023 and the launch of the Voltaira brand for its mobility solutions portfolio, FIT Hon Teng has formed a joint venture with XYPower Technology Co., Ltd., establishing FXNWING New Energy Technology Co., Ltd. ("FXNWING") to enter the EV charger market.
XY Power, based in Xi'an, specializes in EV charging and energy storage systems. With over 25 years of experience, their expertise in power module design will enhance FXNWING's production capabilities. Combined with FIT Hon Teng's manufacturing strengths, this partnership aims to deliver top-notch charging and energy restorage solutions globally. With growth potential in the EV market, FIT will continue to partner with core technical experts to leverage business opportunities by shortening development times and enhancing the solution packages.
Along with the the One-FIT strategy, the strong cooperation between FXNWING and Voltaira has resulted in a new series called Voltaira AC and DC chargers. The debut product Voltaira Anoles AC charger offer 7kW and 22kW charging power and has won the 2024 IF Product Design Award by featuring its interchangeable covers and easy cable and socket replacement to comply with various international standards. Its modular design and improved heat dissipation make it adaptable to different environments.
At Europe’s largest smart energy exhibition, Smarter E Europe, on June 19-21, 2024, visitors were able to explore the Voltaira Royal Series. Targeting the Middle East and North Africa (MENA) market, the Royal Series includes DC fast charging stations and AC chargers for commercial and residential use. Designed for harsh climates, these products feature robust protection and intelligent power distribution to achieve high efficiency and reduce operational costs.
FXNWING's innovation is further evidenced by the FitPile,the mini DC which has won a Red Dot Design Award. This recognition highlights FIT Hon Teng's commitment to innovation and technical excellence.
Visit us at Messe Munchen, Germany (MESSE) C6.635.
About FIT (Foxconn Interconnect Technology) Hon Teng (HK.6088)
Foxconn Interconnect Technology (FIT), listed on the Hong Kong Stock Exchange, focuses on precision design and manufacturing of connector products as its core. FIT continues to explore 5G AIoT, EV mobility, and audio applications areas, stepping into consumer brand operations. For more information about FIT, please see: www.fit-foxconn.com.
Email: fit-ir@fit-foxconn.com sales-usa@fit-foxconn.com