ALBAWABA - Wardwizard Innovations & Mobility Limited, a publicly-held electric vehicle manufacturing company based in India, announced building two factories for electric vehicles and cell plants in Saudi Arabia.
New electric vehicle factories in KSA
Wardwizard announced a new strategic partnership with the kingdom that aims to boost the electric vehicle sector in the region. Under the agreement, two factories will launch in Saudi Arabia for assembling electric vehicles and producing electric cells.
The assembly factory is set to manufacture two-wheeled, three-wheeled, and four-wheeled electric cars, while the company plans to expand its production line to include electric buses in the future. Additionally, the new project will include launching electric vehicle cells factory that aims to develop the reliance on electric vehicles locally and reduce imports.
Under the agreement, two factories will launch in Saudi Arabia for assembling electric vehicles and producing electric cells. (Shutterstock)
The company did not announce the total cost of the joint venture but stated that the project represents a significant step in developing Saudi Arabia's capabilities in electric vehicle manufacturing and advanced technology.
Yatin Gupte, Wardwizard Innovations & Mobility Chairman and MD, said: “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.”
It is worth noting that this new project aligns with the Kingdom’s goals to enhance the electric mobility sector and localize advanced industries in the country and globally.
