Saudi Arabia based-global investor to invest up to $220 million in Greaves Electric Mobility

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.