Pirelli forms $550 million Saudi Arabia tyre manufacturing joint venture
The Saudi Arabian Public Investment Fund (PIF) and Pirelli Tyre S.P.A signed a joint venture (JV) agreement to build a tyre factory in Saudi Arabia. PIF will hold a 75 per cent stake in the JV with Pirelli holding the remaining 25 per cent and acting as “a strategic technology partner” offering both “technical and commercial assistance”. The plant is expected to start production in 2026.