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Wardwizard Innovations & Mobility (Joy e-bike & Joy e-rik) has received a Letter of Intent from His Royal Highness Prince Abdulaziz Bin Turki Bin Talal Bin Abdulaziz Al Saud to form a Joint Venture in Kingdom of Saudi Arabia.
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- This strategic collaboration marks a significant step in Wardwizard’s global expansion. A comprehensive feasibility study is already completed, confirming the viability of these ventures in Saudi Arabia.
- The proposed Joint Venture involves setting up two plants in Saudi Arabia, which shall include: EV Cells Plant and Assembly Plant (for 2-wheelers, 3-wheelers, 4-wheelers and future plan to include buses).
- As part of the Joint Venture, Wardwizard Innovations will bring its technological expertise and intellectual properties, including its advanced EV technologies and innovative manufacturing processes.
- These contributions are expected to strengthen the joint venture’s position in the growing EV market and support Saudi Arabia’s transition towards an environmentally friendly transportation ecosystem.
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