Saudi Arabia's Abdul Latif Jameel Group has signed an agreement with India's Greaves Electric Mobility, the electric vehicle arm of the engineering firm Greaves Cotton, to invest SAR 825 million ($220 million) in the company.
The Saudi company will initially pour SAR 560 million ($150 million) for purchasing 35.8% stake in Greaves Electric Mobility (GEM), followed by an investment of SAR 262 million ($70 million) within 12 months.
