Wardwizard Innovations & Mobility said it will set up a joint venture in Saudi Arabia to establish two plants to assemble electric vehicles.
The company has received a Letter of Intent (LoI) from Saudi Arabia to form a joint venture, the Vadodara-based electric vehicle maker said in a statement.
A comprehensive feasibility study has already been completed, confirming the viability of ventures in Saudi Arabia, it added.
"This partnership is a significant endorsement of our capabilities in the electric mobility sector. With the completion of the feasibility study, we are confident that this joint venture will contribute to the Kingdom's vision for a sustainable future while strengthening our global presence," Wardwizard Innovations & Mobility Chairman and MD Yatin Gupte said.
Advertisement
The JV will leverage Wardwizard's expertise in electric mobility to support Saudi Arabia's transition towards a greener and more sustainable transportation infrastructure, the company said.
Just one email a week