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.
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The company did not disclose the cost associated with entering into the joint venture.
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