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Saudi Arabia Signs EV Investment Deal With Chinese Firm – Ward’s Auto

Saudi Arabia Signs EV Investment Deal With Chinese Firm – Ward’s Auto

The Saudi Arabian Ministry of Investment signs a $5.6 billion investment agreement with Chinese automotive and mobility company Human Horizons in a move that will see the two collaborate on the development, manufacture and sale of electric vehicles.The agreement, made official at an Arab-China business conference in Riyadh, is among the largest investments by Saudi Arabia’s Public Investment Fund, which is tasked with driving the country’s strategy to reduce its reliance on oil for revenue. The investment agreement encompasses… 

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