Saudi Arabia has signed a $5.6bn deal with a Chinese company to manufacture electric vehicles as the kingdom is looking to lead the Arab world in expanding economic ties with Beijing.
The memorandum of understanding signed on Sunday with electric and self-driving car maker Human Horizons on the development, manufacture and sale of vehicles accounted for more than half of the $10bn in investments signed on the first day of a major business conference being held in the capital, Riyadh.
