Saudi Arabia plans in talks to invest $250mln into Chinese car maker

Saudi Arabia’s Public Investment Fund (PIF) is reportedly negotiating to invest at least $250 million into Shanghai-based electric-vehicle maker, Human Horizons Group Inc.

This move underscores the deepening relationship between Saudi Arabia and China, with recent high-level visits amplifying Chinese interest in the Saudi Vision 2030 plan. The kingdom is looking to diversify its economy away from oil.