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Saudi Arabia signs $5.6 billion deal with Chinese EV company - state media

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DUBAI : Saudi Arabia's Ministry of Investment has signed a $5.6 billion deal with Chinese electric car maker Human Horizons to collaborate on the development, manufacture and sale of vehicles, the Saudi state news agency said in a statement.The agreement accounts for more than half of the more than $10 bi

DUBAI : Saudi Arabia's Ministry of Investment has signed a $5.6 billion deal with Chinese electric car maker Human Horizons to collaborate on the development, manufacture and sale of vehicles, the Saudi state news agency said in a statement.

While the relationship between Saudi Arabia, the world's top oil exporter, and China remains anchored by energy ties, there has been a push to boost investments in non-oil sectors as part of the kingdom's diversification agenda.

 

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Saudi announces investment deals at Arab-China summitThe meeting comes amid growing commercial and diplomatic ties between Beijing and Middle Eastern countries. Read more at straitstimes.com.
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