India's EV maker Wardwizard Innovations to form joint venture in Saudi Arabia

Wardwizard Innovations & Mobility

06/09/2024 14:30

BENGALURU, Sept 6 (Reuters) - Indian electric vehicle
maker Wardwizard Innovations and Mobility  WARW.BO  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)
 ((AshnaTeresa.Britto@thomsonreuters.com;))