Abdul Latif Jameel Motors, the authorized distributor of Toyota vehicles in Saudi Arabia, together with Toyota Motor Corporation and Toyota Tsusho Corporation, has completed the second phase of the hydrogen mobility pilot in collaboration with the Engineering College at Princess Nourah bint Abdulrahman University and supporting entities at the university’s campus.
The pilot ran from Jan. 26 to 28, in alignment with the MoU signed between PNU and the Ministry of Energy for the implementation and deployment of hydrogen fuel cell mobility pilot projects. The program’s opening day ceremony featured prominent government, academia, and industry figures, who gathered to reaffirm the long-term importance of hydrogen solutions in Saudi Arabia.
The first phase, completed last September, focused on feasibility and initial testing, while the second focused on scalability, operational expansion, and diversification of hydrogen-powered mobility and stationary solutions within the university environment.
In addition to the previously deployed Toyota Mirai fuel cell electric vehicles, the pilot included the Caetano H2.City Gold hydrogen fuel cell bus, the Toyota hydrogen fuel cell forklift, and the GEH2 stationary hydrogen generator, all powered by Toyota’s hydrogen fuel cell technology. Together, these additions support a broader assessment of hydrogen technology across multiple uses.
Mazin Ghazi Jameel, managing director of marketing operations, Toyota, Abdul Latif Jameel Motors, said: “The second phase of this hydrogen pilot represents a strategic step forward in advancing hydrogen mobility and stationary solutions in the Kingdom. By expanding the scope of hydrogen-powered transport and stationary applications at Princess Nourah bint Abdulrahman University, we are moving beyond exploration toward scalability, gaining practical insights into how this technology can deliver long-term value at scale while supporting Saudi Vision 2030’s sustainability objectives.”
Nobuyuki Takemura, chief representative of the Middle East regional office, Toyota Motor Corporation, said: “Toyota is proud to work alongside the Kingdom of Saudi Arabia and our valued partners to advance hydrogen mobility. Through practical pilots such as this, we are strengthening real-world understanding of hydrogen applications, engaging students directly and inspiring the next generation to shape the future of clean transport. This reflects Toyota’s multi-pathway approach to carbon neutrality, grounded in the belief that progress is accelerated when innovation is tested in real environments.”
Saud Alsultan, deputy general manager of Toyota Tsusho Corporation, Saudi Arabia, added: “This second phase marks an important milestone in translating hydrogen mobility from pilot testing into scalable real-world applications. By expanding beyond passenger vehicles to include buses and stationary solutions, we are gaining valuable insights into how hydrogen can support integrated mobility ecosystems and contribute meaningfully to Saudi Arabia’s clean energy and sustainability ambitions.”
The initiative builds on Abdul Latif Jameel Motors and Toyota’s growing portfolio of Saudi hydrogen mobility and research projects. This includes the Jeddah hydrogen taxi pilot, the Makkah Caetano H2.City Gold bus trials, and a region-specific fuel cell research collaboration with King Abdullah University of Science and Technology.
The conclusion of both phases reflects Abdul Latif Jameel Motors, Toyota Motor Corporation, and Toyota Tsusho Corporation’s long-term commitment to be part of the Kingdom’s sustainability journey in mobility and beyond through a diversified, market-responsive approach.
Abdul Latif Jameel Motors, Toyota conclude Phase 2 of hydrogen mobility pilot
https://arab.news/r89g5
Abdul Latif Jameel Motors, Toyota conclude Phase 2 of hydrogen mobility pilot
Muhlah closes $7.5m seed round led by BIM Ventures and Japan’s SBI Group
Muhlah Zamaniyah for Finance, operating under the brand Muhlah, a Saudi fintech-enabled consumer microfinance company licensed by the Saudi Central Bank, announced the closing of its seed investment round totaling SR28.25 million ($7.5 million).
The round was led by BIM Ventures and SBI Group, a Japanese financial conglomerate, with participation from AlSuhaimi Holding Group and Fakhr Investment Holding Company. Muhlah is a venture-studio spinoff from BIM Ventures, established to deliver regulated, scalable financing solutions supported by strong governance and compliance.
This round reflects the growing attractiveness of Saudi Arabia to foreign capital within a well-regulated financial sector. The participation of SBI Group represents foreign direct investment supporting Muhlah’s expansion and accelerating its ability to deliver Shariah-compliant financing solutions, building on the strategic partnership between BIM Ventures and SBI Group.
Muhlah intends to progressively expand its financing capacity through Shariah-compliant structures, including off-balance-sheet and partner-backed arrangements. The company intends to explore additional funding channels and international partnerships to support its growth, subject to market conditions and further agreements.
Yoshitaka Kitao, representative director, chairman, president and CEO, said: “The shareholders, BIM and SBI Group, entered into the memorandum of understanding in May 2024, under the support of the Ministry of Investment, regarding a strategic business alliance that includes the joint establishment and management of investment funds. This transaction represents one of the concrete initiatives undertaken pursuant to that alliance.”
Mohamed Amine Merah, managing partner and CEO, BIM Ventures, said: “From inception, Muhlah was designed to bridge local market expertise with global financial depth. Our partnership with SBI Group, one of Asia’s largest financial conglomerates, brings a unique combination of fintech know-how and access to Japanese and international capital markets into Saudi Arabia’s consumer finance sector. This round reflects what the BIM-SBI alliance was built to achieve: creating investable, regulation-ready platforms that attract world-class partners to the Kingdom.”
Abdulaziz Al-Rammah, CEO of Muhlah, will lead the company’s next phase of growth, focused on expanding access to Shariah-compliant consumer microfinance through responsible products that strengthen transparency, affordability, and sustainable repayment outcomes.










