Riyadh - Sharikat Mubasher: Smart Mobility, the Saudi joint venture (JV) of Foxconn Interconnect Technology (FIT), plans to start establishing its Middle East factory in December, FIT Chairman Sidney Lu announced during the FIT Tech Day 2025 event.

The new factory is expected to start operations in 2026, producing electric vehicle chargers, as reported by Reuters.

FIT, a unit of Taiwan's Foxconn, launched Smart Mobility in May in partnership with Saleh Suleiman Alrajhi and Sons.

Lu revealed that the company’s revenue from the auto mobility segment is expected to reach $700 million in 2025.

For his part, Fahad Al Saud, CEO of Smart Mobility, commented: "One of our targets as a country in Saudi Arabia is that by 2030, 30% of the cars have to be electrified.”

FIT expanded into EV connectivity and charging through its acquisitions of Germany’s Prettl SWH group, renamed FIT Voltaira, in 2023 and Auto-Kabel Group in 2024.

The inaugural FIT Tech Day 2025 was held on 17 September 17 in Taipei, gathering industry leaders, technical experts, and academic representatives to explore the future of smart mobility and automotive solutions. It featured forward-looking trend forums and keynote sessions spotlighting the disruptive impact of AI on smart mobility.