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Saudi’s Abdul Latif Jameel to invest $220m in Indian electric vehicle maker

Saudi Arabian family conglomerate Abdul Latif Jameel is to invest $220 million in India’s Greaves Electric Mobility, as it looks to benefit from the country’s growing electric vehicle (EV) market. India is currently the world’s fourth-largest automotive market and Greaves Electric Mobility, a subsidiary of Indian engineering firm Greaves Cotton Ltd, produces two and three […]

Alloy Wheel, Wheel, Spoke

Saudi Arabia likely to see two more electric vehicle plants

Plans by American electric vehicle (EV) maker Lucid Motors to build a production plant in Saudi Arabia is likely to be the first of at least three such facilities in the kingdom, investment minister Khalid Al-Falih said today. Speaking at the World Economic Forum in Davos, Falih did not provide any further details on the […]

City, Town, Urban

‘We’re serious about net zero’ says Saudi’s PIF chief

PIF establishing new hydrogen company Fund plans to develop 70 percent of renewable energy targets Kingdom to phase out almost all liquids Saudi Arabia’s Public Investment Fund (PIF) is committed to achieving its goal of developing 70 percent of the kingdom’s renewable energy by the end of the decade, PIF’s governor confirmed today. Despite it […]

Lucid’s electric vehicle hub to create 4,500 jobs in Saudi

US-based Lucid Group on Wednesday revealed more details about its plans to build an electric vehicle (EV) production hub in Saudi Arabia, with 4,500 jobs to be created.  With an annual capacity to build 155,000 EVs, agreements in place are estimated to provide financing and incentives to Lucid of up to $3.4 billion over the […]