BENGALURU (Reuters) – Indian electric vehicle maker Wardwizard Innovations and Mobility announced on Friday it received a letter of intent to form a joint venture in Saudi Arabia, aiming to establish an assembly plant and an EV cell plant in the kingdom.
The assembly plant will initially focus on producing electric two-wheelers, three-wheelers and four-wheelers, with plans to expand in the future to include electric bus production.
The EV cell plant will be dedicated to manufacturing electric vehicle cells.
The company did not disclose the cost associated with entering into the joint venture.
(Reporting by Ashna Teresa Britto in Bengaluru; Editing by Vijay Kishore)
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