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Why oil-rich Middle East is investing big in Chinese NEVs – Jing Daily

Middle Eastern nations are looking to the Far East to not just boost the number of New Energy Vehicles (NEVs) on their roads, but also to diversify their oil-dependent economies through sustainable and renewable energy investments.This summer, an Abu Dhabi government-funded investment company, CYVN Holdings, bought a 7 percent stake in China’s leading NEV maker, Nio, for 738.5 million.In June this year, Saudi Arabia’s Ministry of Investment started a joint venture with HiPhi’s Human Horizons with the aim of pumping… 

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