TASARU, a key subsidiary of Saudi Arabia’s Public Investment Fund, has made a strategic investment in Blacklane, a global leader in premium chauffeur services. This move supports Saudi Arabia’s Vision 2030 and aims to boost sustainable mobility in the region.
EV Fleet Introduction
Established in 2011 in Germany, Blacklane is renowned for its innovative chauffeur services that connect travelers with professional drivers worldwide. With backing from TASARU, Blacklane plans to launch a fleet of electric vehicles (EVs) in Saudi Arabia, aligning with the nation’s environmental goals.
The service will first roll out in Riyadh, followed by Jeddah, with plans to expand to other cities. This initiative supports Saudi Arabia’s efforts to cut carbon emissions and promote a greener future. Additionally, Blacklane will open a Chauffeur Training Academy in Saudi Arabia, aiming to maintain high service standards while creating local jobs and aiding economic diversification, a core Vision 2030 objective.
Boosting Market Presence
TASARU’s investment is not limited to finances; it involves connecting Blacklane with local business leaders and partners. TASARU’s connections with public and private sectors, including PIF portfolio companies, will be instrumental in integrating Blacklane into the Saudi market. These partnerships are expected to strengthen Blacklane’s operations and support its long-term growth in the Kingdom.
Michael Mueller, CEO of TASARU, highlighted the partnership’s significance, stating that Blacklane’s innovative services align with the vision of sustainable and environmentally friendly mobility solutions in Saudi Arabia. Dr. Jens Wohltorf, Founder and CEO of Blacklane, expressed excitement about bringing their premium chauffeur services to Saudi Arabia, emphasizing sustainability and service excellence as key goals.
