Business EconomyPosted at: Sep 6 2024 7:05PM

WIML to form joint venture in Saudi Arabia

Vadodara, Sep 6 (UNI) Wardwizard Innovations & Mobility Limited (WIML) on Friday announced that the company has received a Letter of Intent (LOI) from His Royal Highness Prince Abdulaziz Bin Turki Bin Talal Bin Abdulaziz Al Saud to form a Joint Venture in the Kingdom of Saudi Arabia (KSA).
This strategic collaboration marks a significant step in Wardwizard’s global expansion and commitment to sustainable mobility solutions.
A comprehensive feasibility study has already been completed, confirming the viability of these ventures in Saudi Arabia. The positive outcome of this study supports Wardwizard's decision to proceed with the joint venture, which aligns with the KSA’s vision for sustainable development.
Commenting on this milestone, Mr. Yatin Gupte, Chairman and Managing Director, Wardwizard Innovations & Mobility Limited, said, “We are honoured to receive this Letter of Intent from His Royal Highness Prince Abdulaziz Bin Turki Bin Talal Bin Abdulaziz Al Saud.
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."
The proposed joint venture involves setting up two plants in Saudi Arabia, which shall include:
Assembly Plant: An assembly plant for electric two-wheelers, three-wheelers, and four-wheelers with plans for future expansion to include the production of electric buses.
EV Cells Plant. A dedicated plant focused on the production of electric vehicle cells
Wardwizard Innovations will outline its proposed investment and stake in the joint venture, demonstrating its strong commitment to supporting sustainable mobility in the Kingdom of Saudi Arabia.
Wardwizard Innovations & Mobility Limited is one of India’s leading auto manufacturing companies in the electric vehicle (EV) segment under the brand name Joy e-bike.
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Tags: #WIML to form joint venture in Saudi Arabia

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Board here on Tuesday per quintal
Kottayam
RSS FOUR: 21000
RSS FIVE : 20700
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SIXTY PERCENT LATEX: 13950
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RSS FIVE: 2070
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RSS Two: 23654
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NEW DELHI, OCT 8 (UNI):- Prime Minister Narendra Modi waving to thank the people of Haryana for granting the Bharatiya Janata Party a decisive victory in the state at party headquarters, in New Delhi on Tuesday. UNI PHOTO-PS9U BY PARTHA SARKAR

NEW DELHI, OCT 8 (UNI):- Prime Minister Narendra Modi, BJP National President J P Nadda at a thanks giving ceremony to the people of Haryana for granting the Bharatiya Janata Party a decisive victory in the state at party headquarters, in New Delhi on Tuesday. UNI PHOTO-PS8U

NEW DELHI, OCT 8 (UNI):- Prime Minister Narendra Modi, BJP National President J P Nadda at a thanks giving ceremony to the people of Haryana for granting the Bharatiya Janata Party a decisive victory in the state at party headquarters, in New Delhi on Tuesday. UNI PHOTO-PS7U

NEW DELHI, OCT 8 (UNI):- Prime Minister Narendra Modi waving to thank the people of Haryana for granting the Bharatiya Janata Party a decisive victory in the state at party headquarters, in New Delhi on Tuesday. UNI PHOTO-PS12U

NEW DELHI, OCT 8 (UNI):- Prime Minister Narendra Modi waving to thank the people of Haryana for granting the Bharatiya Janata Party a decisive victory in the state at party headquarters, in New Delhi on Tuesday. UNI PHOTO-PS11U

NEW DELHI, OCT 8 (UNI):- Prime Minister Narendra Modi waving to thank the people of Haryana for granting the Bharatiya Janata Party a decisive victory in the state at party headquarters, in New Delhi on Tuesday. UNI PHOTO-PS10U

HYDERABAD, OCT 8 (UNI) Telangana IT and Industry Minister D Sridhar Babu, Jayesh Ranjan Special Chief Secretary, Dept of ITE and C Industries and Commerce, Dr. G. Malsur, Director of Industries, Release Handbook of MSME Schemes in Hyderabad on Tuesday.UNI PHOTO-130U

RANCHI, OCT 8 (UNI):-Jharkhand BJP workers celebrate after the party's victory in Haryana Assembly Elections in Ranchi, Jharkhand on Tuesday.UNI PHOTO-129U

RANCHI, OCT 8 (UNI):-Jharkhand State BJP President Babulal Marandi along with Union Minister of State for Defence Sanjay Seth celebrate after the party's victory in Haryana Assembly Elections in Ranchi, Jharkhand on Tuesday.UNI PHOTO-128U

NEW DELHI, OCT 8 (UNI):- Haryana Election Results 2024, in New Delhi on Tuesday.UNI GFX-2U

RANCHI, OCT 8 (UNI):- Jharkhand State BJP President Babulal Marandi celebrate after the party's victory in Haryana Assembly Elections in Ranchi, Jharkhand on Tuesday.UNI PHOTO-127U

RANCHI, OCT 8 (UNI):- Jharkhand State BJP President Babulal Marandi celebrate after the party's victory in Haryana Assembly Elections in Ranchi, Jharkhand on Tuesday.UNI PHOTO-126U

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