Wardwizard to Set Up Electric Vehicle Plants in Saudi Arabia
By Rediff Money Desk, New Delhi Sep 06, 2024 18:38
Wardwizard Innovations & Mobility will form a joint venture in Saudi Arabia to establish two electric vehicle assembly plants. The company received a Letter of Intent from Saudi Arabia to form the JV.
New Delhi, Sep 6 (PTI) Wardwizard Innovations & Mobility on Friday 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.
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.
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.
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.
Source: PTI
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