- Wardwizard and Saudi Arabia team up to establish two factories for EV assembly and cell production.
- Factories will produce two-, three-, and four-wheeled EVs, with plans to add electric buses.
- The project supports Saudi Arabia’s push to localise industries and strengthen its EV manufacturing capabilities.
Wardwizard Innovations & Mobility has announced a new partnership with Saudi Arabia to expand the region’s electric vehicle (EV) sector. The deal includes setting up two factories to assemble EVs and produce EV cells. This move supports Saudi Arabia’s goal to localise advanced industries.
One of the new factories will manufacture electric two-wheelers, three-wheelers, and four-wheelers. The company also plans to expand into electric bus production. The second factory will focus on producing EV cells, aiming to reduce the country’s reliance on imported components.
Although the exact investment cost was not disclosed, the project is a significant milestone in Saudi Arabia’s efforts to build its EV manufacturing capacity.
Yatin Gupte, Wardwizard’s Chairman and Managing Director, highlighted the importance of the venture. He called it a significant endorsement of Wardwizard’s capabilities. “With the feasibility study complete, we are confident this venture will support the Kingdom’s vision for a sustainable future,” Gupte stated.
The new factories align with Saudi Arabia’s broader goals of enhancing its electric mobility sector and boosting local industry. The project is expected to strengthen the Kingdom’s ability to meet the growing demand for EVs and improve its position in the global market.
Saudi Arabia has made significant strides in supporting sustainable technologies, and this partnership with Wardwizard reinforces its commitment. The Kingdom aims to become a leader in the EV market in the Middle East, and these new factories are crucial to that vision.
The EV assembly plant will initially produce vehicles for local consumption. Eventually, it aims to export to other markets in the region. Adding electric buses to the production line highlights Saudi Arabia’s long-term plan to integrate sustainable public transportation solutions.
The electric vehicle cell factory is a local EV supply chain game-changer. By producing critical components within Saudi Arabia, the Kingdom can reduce costs and improve the efficiency of its EV industry. This decreases its dependency on international suppliers, supporting economic diversification.
This joint venture also represents Wardwizard’s growing international presence. The company, which has already made its mark in India’s EV market, is expanding into new regions to capitalise on the rising demand for clean mobility solutions.
The partnership comes during rapid growth in the global EV market. Saudi Arabia’s strategic location and ambitions for industrial development position it as a critical player in this sector.
Wardwizard’s entry into the Saudi market also signals growing confidence in the country’s business environment. The partnership will likely attract further investments in sustainable technology, contributing to the Kingdom’s vision for economic transformation under its Vision 2030 initiative.
As global demand for electric vehicles continues to grow, this collaboration between Wardwizard and Saudi Arabia represents a major step forward in the region’s electric mobility landscape. Both companies are set to benefit from the increasing demand for cleaner transportation options and advanced manufacturing capabilities.