The Ministry of Investment in Saudi Arabia has entered into a significant agreement worth $5.6 billion with Chinese electric car manufacturer Human Horizons.
This partnership was confirmed by the Saudi state news agency on Monday, highlighting the growing collaboration between the two countries in the field of electric vehicles.
The agreement was signed on the first day of the Arab-China business conference, which discusses sectors spanning technology, renewable energy, agriculture, real estate, metals, tourism, healthcare, and others.
Saudi Arabia is planning to develop a domestic EV manufacturing industry. Human Horizons said in March that it looks forward to expanding overseas.
