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Saudi PIF in discussions to invest in Chinese EV brand
November 7, 2023 9:08 AM ESTAccording to individuals with knowledge of the situation, the sovereign wealth fund of Saudi Arabia is currently negotiating an investment of no less than $250 million in Human Horizons Group, a Chinese electric-vehicle manufacturer.
A move supporting the kingdoms initiative to establish a local automotive sector.
The sources disclosed that the Public Investment Fund (PIF) might secure a stake in the Shanghai-based company at a valuation of $3 billion. They added that while an agreement could potentially be reached within the... More
