Wardwizard Innovations & Mobility (WIML) 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.
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