The Zahid Group was founded in 1943 by Mohamed Mahmoud Zahid to represent General Motors in Saudi Arabia. The group has over 30 companies across 14 sectors in 23 countries. In June 2023, its subsidiary Altaaqa Renewables announced the financial close for the development of a 119 MWp Photovoltaic Independent Power Plant in Wadi ad-Dawasir, along with TotalEnergies and Toyota Tsusho Corporation.