Saudi Arabian chemical giant invests in German automotive technology developer
Saudi Basic Industries Corporation (Sabic) has bought an equity stake in Germany’s Inpro, a joint venture company that develops innovation in automotive production.
Sabic joins Germany’s Daimler, Siemens, ThyssenKrupp and Volkswagen and the German state as equity owners in the group.
“Through Inpro, Sabic can participate and add value in the early stages of innovation with world-class companies, who continue to develop and create new vehicles and processes that meet the interests of automakers and consumers around the world,” says Gregory Adams, vice-president of Innovative Plastics’ automotive division. Innovative Plastics is a subsidiary of Sabic.
Inpro’s research and development focus includes the development of new production technologies for future electric and hybrid vehicles.
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