Abdul Latif Jameel, a global investor based in Saudi Arabia, has committed to invest up to $220 million (Rs 17 billion) in Greaves Electric Mobility, a two-to-three-wheeler mobility company. The global investor will initially invest $150 million for a 35.8 per cent stake in Greaves Electric Mobility, as part of the transaction. Greaves Electric Mobility, a subsidiary of the diverse engineering company Greaves Cotton Limited, will invest the funds in new products, related technologies and marketing. Additionally, the funds will be used to increase its manufacturing capacity.
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