Pravaig, a Banglore based Electric Vehicle (EV) Original Equipment Manufacturer (OEM), has signed a memorandum of understanding (MOU) with Saudi India Venture Studio on the concluding day of G20 YEA India Summit 2023.
“We are delighted to join hands with Saudi India Venture Studio, founded by Mansour Alsanooni, under the aegis of His Royal Highness Prince Fahad Al Saud at the G20 YEA summit in New Delhi, India,” said Siddhartha Bagri.
“With the Ministry of Investment’s meticulous guidance, Saudi India Venture Studio aligns with INVEST SAUDI, forging a streamlined path into MENA.The partnership with Pravaig sparks a symphony of investment opportunities and entrepreneurial ventures, propelling the Kingdom’s technological evolution in the EV, battery, and AI sectors. Together, we embark on an innovative journey, shaping the Kingdom’s reign in tomorrow’s realms”, added Mansour Alsanooni.
“Coming together is just the beginning; creating prosperity for all is the goal and taking back control for people across the world. HRH MBS’ Vision 2030 will ultimately create not just one, but many nations with a vibrant society, thriving economies, and global ambitions,” said Siddhartha Bagri.
Pravaig is driven by a steadfast commitment to the right to repair, privacy, and ownership,
empowering citizens, and countries to take back control. As the Kingdom invests in this wave of progress, Pravaig recognizes the extraordinary opportunities that lie within the Saudi Arabian market and is committed to contributing to its development and success.
This landmark MOU between Pravaig Dynamics and Saudi India Venture Studio signifies the
beginning of a collaborative journey to co-develop, supply, and service special purpose vehicles, including Electric Vehicles, AI-driven solutions, Advanced batteries, and Energy Storage Solutions.
Key Objectives
One of the key objectives of this partnership is to establish a robust left-hand drive production base of up to One million units’ vehicles, effectively catering to the demands of the GCC, Europe, and the USA.
By combining Pravaig’s expertise with the Kingdom of Saudi’s invaluable support and strategic guidance, we are poised to unlock unparalleled economic opportunities of US$ 31 billion+ across international markets.
Conclusion
Pravaig and Saudi India Venture Studio are eager to embark on this transformative journey,
leveraging each other’s strengths, expertise, and resources to propel this vision forward.
Saudi India Venture Studio aims to accelerate and revolutionize the electric automotive industry in Saudi Arabia.
