Rock Auto Enters Saudi Market, Another Milestone in Global Strategy | Xinwen NEWS

On December 1, ROX Motor signed a partnership agreement with Laith Al Obaidi Group in Shanghai, authorizing the group as its strategic partner in the Saudi Arabian market with exclusive distribution rights for Riyadh and the Eastern Province. This adds another market to ROX Motor's global expansion map, bringing the ROX 01 — a full-terrain luxury SUV — to Saudi users with an innovative outdoor lifestyle experience powered by Chinese smart manufacturing.

Heart Capital invested in ROX Motor (parent: Luoke Intelligence) in its Series B round in September 2021, supporting the company's innovation in new energy vehicles. Founded by serial tech entrepreneur Chang Jing, ROX Motor launched its first full-terrain luxury SUV, the ROX 01, in August 2023. Since deliveries began in November 2023, cumulative sales have reached nearly 4,000 units, with roughly one-third of buyers coming from overseas markets. In just two years and eight months, the ROX 01 — a new energy SUV designed for both urban and off-road scenarios — has established a firm foothold across the Middle East, Central Asia, and North Africa, achieving a successful brand breakthrough. The company recently topped the Hurun China New Energy Potential Enterprises Top 100 list for 2024, surpassing numerous emerging rivals and demonstrating its strong potential and competitiveness in the new energy sector.

Signing ceremony group photo. ROX Motor co-founder and CEO Yan Feng and Laith Al Obaidi Group board member Ahmad Al-Obaidi attended the ceremony. Yan Feng remarked: "Over the past six-plus months, ROX Motor's globalization strategy has made breakthrough progress. This partnership with Laith Al Obaidi Group is not only an important milestone for our expansion into the Saudi market, but also a critical step in deepening our influence and growing our market share across the Middle East." With its extensive market presence in the region, Laith Al Obaidi Group's collaboration with the ROX 01's outstanding product capabilities will meet local consumers' expectations for premium new energy vehicles and continue to expand this promising market.

Yan Feng and Ahmad Al-Obaidi pose in front of the ROX 01

Since the ROX 01's debut at the Abu Dhabi Auto Show this April, ROX Motor has established sales and service networks in over 20 countries including the UAE, Qatar, and Kazakhstan, with overseas orders and deliveries surpassing 10,000 units. The Laith Al Obaidi Group partnership will deliver high-quality, localized products and services to Saudi users. With the ROX 01's triple value proposition of comfortable family use, all-terrain capability, and outdoor recreation, ROX Motor will continue expanding overseas markets, building the world's most trusted outdoor lifestyle brand, and providing a vivid case study for the high-quality global expansion of China's new energy industry.

Founded in 2022, Heart Capital is an early-stage Chinese venture capital fund focused on technology and digitalization. The team is led by Yan Han, formerly a founding partner at Lightspeed China, alongside core investors, a CFO, and seasoned investors from industry backgrounds. Notable past investments include Series A stakes in Xpeng Motors (NYSE: XPEV, 09868.HK) and Full Truck Alliance (NYSE: YMM), as well as investments in FinVolution (NYSE: FINV), RoboSense (02498.HK), Baichuan, Manman Lenglian (cold chain logistics), Fan Deng Reading, World Logistics, Micro-nano Space, LandSpace, Lanhu, and Starfield. Rooted in China with a global outlook, Heart Capital seeks genuine value in non-consensus opportunities. The firm respects the value of people and champions the potential of the human spirit, aspiring to accompany more young Chinese entrepreneurs in strengthening China and reaching the world.