SCOTTSDALE, ARIZONA / ACCESS Newswire / April 16, 2025 / Ronn Inc. (OTC PINK:RONN), following its recently announced Phase One Strategic Agreement in the Kingdom of Saudi Arabia, today announced the execution of a Phase Two strategic investment joint venture agreement with prominent Saudi partners.
Mr. Ronn Ford, CEO of RONN Inc., stated:
"This agreement outlines a 50/50 Joint Venture structure and a 90/10 financial commitment with a highly respected Saudi infrastructure group. This milestone represents a pivotal advancement in Ronn's strategic expansion into the Middle East and strengthens our positioning as a leader in global hydrogen innovation."
Key Structure of the Joint Venture:
50/50 Equity Ownership between Ronn Inc. and its Saudi partner
90/10 Capital Commitment, with the Saudi group providing 90% of the funding for infrastructure, including office setup and early-stage manufacturing development in both the U.S. and Saudi Arabia
Initial funding to support completion of Class 3-6 hydrogen logistic truck prototypes with Roush, manufacturing tooling, and the launch of production in the U.S.
Development of a secondary plant in Saudi Arabia for the deployment of logistic vehicles across major Saudi cities
Creation of hundreds of manufacturing and R&D jobs across both the United States and Saudi Arabia
Completion of Hypercar engineering and tooling in the U.S., with final assembly and factory development in Saudi Arabia to meet regional demand
Ronn Inc. will contribute executive leadership, intellectual property, proprietary hydrogen technology, and strategic relationships with U.S. manufacturers such as Roush and Magna.
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Mr. Ford continued:
"This JV and the financial commitment arrive at a time when Saudi Arabia is accelerating its multi-trillion-dollar economic transformation, including a publicly announced $1 trillion investment initiative targeting U.S. strategic industries. World-scale hydrogen projects like the $8.4 billion NEOM Green Hydrogen Plant-the largest of its kind-are transforming the global energy landscape. With hydrogen positioned as a cornerstone of Vision 2030, this joint venture is engineered to move at the speed of Saudi ambition."
"Our partner's commitment to funding 90% of this venture, including boots-on-the-ground support from office setup to manufacturing infrastructure, represents the kind of visionary alignment we've been building toward. Vision 2030 is accelerating. This is the moment-and this is the region. This partnership will help fuel the next era of hydrogen transportation."
Engineer Fouad and his investment team bring decades of experience in infrastructure development, including leadership roles in Saudi Arabia's national high-speed rail systems, industrial city construction, and sovereign-backed innovation corridors. While the partner has requested discretion in public-facing media, their influence in the Kingdom's transformation is well-documented within institutional and government circles.
For media inquiries contact:
Ronn Ford
Ronn.ford@ronnmotorgroup.com
ABOUT RONN MOTOR GROUP
Ronn Motor Group has spent over a decade developing a complete line of luxury, high-performance hydrogen-powered vehicles. Its portfolio includes the Q-Series MystSUV (delayed), a line of Class 3-5 Hydrogen Fuel Cell Electric Vehicles (HFCEV), and next-generation hydrogen Hypercars-expected to begin roll-out in 2026.
Ronn Motor Group's headquarters are in Scottsdale, Arizona. Its Engineering and Innovation Center is scheduled to open in Detroit in late 2025.
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Forward-Looking Statements:
This release may contain forward-looking statements relating to future events or anticipated performance. Actual results may differ materially due to various risk factors, including but not limited to changes in market conditions, regulatory environments, final deal execution, manufacturing delays, and geopolitical events. Ronn Inc. undertakes no obligation to revise or update any forward-looking statements publicly.
SOURCE: RONN Inc.
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