Robo.ai Inc. (AIIO)announced that it will establish a commercial vehicle joint venture with Pakistan’s JW Group, in furtherance of its strategic goal of contributing to green mobility and smart city development. The JV will be named RoBUS and headquartered in UAE. Robo.ai is also pleased to announce the appointment of River Zhang as the Robo AI’s chief industrial officer and president of RoBUS. The parties had earlier announced plans for a commercial vehicle production base in South Asia. Leveraging JW Group’s established manufacturing capabilities and international distribution network, RoBUS intends to develop customized products for the Middle East, Africa, and Southeast Asia, aligned with applicable local regulations and customer requirements.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AIIO:
- Robo.ai Invests in Arkreen to Enhance Web3 Integration
- Robo.ai Inc. Establishes Joint Venture for Industrial City in Dubai
- Robo.ai Inc. enters joint venture agreement to establish Robo.ai Industrial City
- Robo.ai and EVT Aerotechnics Launch ‘RoVTOL’ Joint Venture in UAE for eVTOL Expansion
- Robo.ai and Ewatt Aerospace establish RoVTOL joint venture