Abdul Latif Jameel invests $220 mln in Greaves Electric Mobility

Signing Ceremony

Abdul Latif Jameel signed an agreement with India’s Greaves Electric Mobility to invest nearly $220 million (SAR 825 million) in the latter, according to a statement of the Indian company.

Abdul Latif Jameel will initially invest $150 million in return for a 35.8% stake in the Indian company, and $70 million over 12 months.

Greaves Electric Mobility specializes in manufacturing two-wheeled electric vehicles under the brand “Ampere Vehicles” and three-wheeled vehicles “E-Auto” and “E-Rickshaw” under the “Ele” and “Teja” brands, according to data available with Argaam.