acf/google-ad-placement

<ul>
	<li>Abdul Latif Jameel, an early&nbsp;Rivian Automotive, Inc&nbsp;RIVN backer,&nbsp;<a class="editor-rtfLink" href="https://alj.com/en/news/abdul-latif-jameel-invests-in-greaves-electric-mobility-one-of-indias-leading-two-to-three-wheeler-electric-mobility-companies/" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">committed to investing</a>&nbsp;up to $220 million (₹17 billion) in India&#39;s battery-powered two and three-wheeler vehicles through EV maker&nbsp;Greaves Electric Mobility.</li>
	<li>The Saudi family-owned group will initially pay $150 million (₹11.6 billion) for a 35.8% stake in India&#39;s Greaves Cotton Ltd subsidiary to foray into the fourth-largest automobile market.</li>
	<li>The investment will help Greaves Electric expand its business locally and potentially expand in regions including Latin America, Asia, and Africa,&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2022-06-02/rivian-s-saudi-backer-makes-new-bet-on-indian-two-wheeled-evs?srnd=premium-asia#xj4y7vzkg&amp;sref=TBDibEcD" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Bloomberg reports</a>.</li>
	<li>The retail sales of Greaves Electric Mobility stand at over 62,000 vehicles for FY22, which is a 128% jump year-on-year.</li>
	<li>BloombergNEF sees 53% of new automobile sales in India turn electric by 2040, against 77% in China.</li>
</ul>

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