Announced
Financials
Tags
Friendly
Private Equity
Automobiles
Private
electric cars
Cross Border
Majority
Saudi Arabia
Acquisition
Pending
Synopsis
Public Investment Fund, the sovereign wealth fund of Saudi Arabia, and Foxconn, an electronics contract manufacturer, agreed to form a joint venture. Financial terms were not disclosed. "Ceer is the first Saudi automotive brand to produce electric vehicles in Saudi Arabia, and will design, manufacture and sell a range of vehicles for consumers in Saudi Arabia and the MENA (Middle East and North Africa) region, including sedans and sports utility vehicles," PIF.
© COPYRIGHT 2024 MERGERLINKS LIMITED.
ALL RIGHTS RESERVED.
15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM.