# Alat and SoftBank Group form JV to manufacture industrial robots in Riyadh

Alat and SoftBank Group formed a joint venture to manufacture industrial robots in Riyadh, Saudi Arabia, with an investment of up to $150 million. The first factory is targeted to open in December 2024.

- Type: Partnership
- Announced: 2024-02-20
- Where: Riyadh, Saudi Arabia
- Value: $150.0M
- Status: announced
- Products: industrial robots
- Sectors: [Automation and Robotics](https://endata.com/sectors/automation-robotics.md)

## Companies

- [SoftBank Group](https://endata.com/companies/15862.md) (partner)
- [Alat](https://endata.com/companies/75722.md) (partner)

## Sources

- [group.softbank](https://group.softbank/en/news/press/20240220), 2024-02-20: "Alat, a PIF company... has today announced the establishment of a strategic partnership with SoftBank Group Corp. to establish a next generation industrial automation business in the Kingdom of Saudi Arabia that will manufacture groundbreaking industrial robots."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.