RONN-Saudi Arabia JV Greenlit: Multi-Billion Dollar Hydrogen Expansion to Anchor Vision 2030, Set Over Three Years

Rhea-AI Summary

RONN Inc. (RONN) has secured approval for a major joint venture with Saudi Arabia, featuring a multi-billion-dollar hydrogen budget of up to $4 billion USD over three years. The initiative aligns with Saudi Arabia's Vision 2030 and includes:

The project encompasses two advanced production facilities in Saudi Arabia, with plans to produce 10,000 hydrogen-electric logistics trucks, 1,000 RONN Phoenix sport vehicles, and an exclusive Halo Hypercar. Initial engineering will be conducted in the U.S., with provisions for training Saudi-based engineers as part of Vision 2030's human capital development goals.

Positive

• Secured up to $4 billion USD budget for hydrogen expansion
• Large-scale production plans for 10,000 logistics trucks and 1,000 sport vehicles
• Strategic alignment with Saudi Arabia's Vision 2030
• Establishment of two advanced production facilities in Saudi Arabia

Negative

• Technical details remain confidential, creating uncertainty about project specifics
• Three-year implementation timeline suggests delayed revenue recognition
• Heavy dependence on Saudi market and government initiatives

SCOTTSDALE, ARIZONA / ACCESS Newswire / May 6, 2025 / RONN Inc. confirmed today that a high-level strategic call between Saudi executives, CEO Mr. Ford, and Sheila Stewart has resulted in a formal approval of a multi-billion-dollar hydrogen budget, with a contingency framework allowing up to $4 billion USD-set to roll out across a three-year implementation window ahead of Vision 2030.

The initiative includes plans for two advanced production facilities in Saudi Arabia, targeting the rollout of 10,000 hydrogen-electric logistics trucks, 1,000 RONN Phoenix sport vehicles, and a highly exclusive one-off Halo Hypercar. Technical details are currently confidential. Initial engineering will be executed in the U.S., with training programs designed to upskill Saudi-based engineers as part of the Vision 2030 human capital alignment.

Additional milestones and rollout specifics will be disclosed as project phases are approved. Mr. Ford shared, "This joint venture is a culmination of decades of innovation and a belief in hydrogen as the next great global energy paradigm." He added, "I've been building vehicles since the '50s-and this moment marks a legacy-defining evolution."

About RONN Inc.
RONN Inc. is a U.S.-based hydrogen technology company focused on developing zero-emission hydrogen fuel cell vehicles, modular infrastructure, and high-performance supercars. The company is committed to scalable innovation, sustainable energy solutions, and global partnerships that accelerate the hydrogen economy.

Forward-Looking Statements
This press release contains forward-looking statements, including projections and estimates, which are subject to risks and uncertainties. Actual results may differ materially due to various factors. RONN Inc. undertakes no obligation to update these statements except as required by law.

Contact:
Ronn Ford, CEO
Ronn.ford@ronnmotorgroup.com
Social Media: @ronnmotorgroup on X
Website: www.ronnmotorgroup.com

SOURCE: RONN

View the original press release on ACCESS Newswire

FAQ

What is the value of RONN's joint venture with Saudi Arabia?

The joint venture includes a hydrogen budget of up to $4 billion USD, to be implemented over a three-year period leading up to Vision 2030.

How many vehicles will RONN produce under the Saudi Arabia agreement?

RONN plans to produce 10,000 hydrogen-electric logistics trucks, 1,000 RONN Phoenix sport vehicles, and one exclusive Halo Hypercar.

Where will RONN's new production facilities be located?

Two advanced production facilities will be established in Saudi Arabia, with initial engineering work conducted in the United States.

How does RONN's joint venture align with Saudi Vision 2030?

The joint venture aligns with Vision 2030 through hydrogen infrastructure development and includes training programs to upskill Saudi-based engineers, supporting human capital development goals.

When will RONN begin production in Saudi Arabia?

The implementation is set over a three-year window leading up to Vision 2030, with specific rollout details and milestones to be disclosed as project phases are approved.