Saudi Arabia-based family-owned, diversified global investor and operator Abdul Latif Jameel has committed to invest up to $220-million (Rs 1,700-crore) in Greaves Cotton's e-mobility arm -- Greaves Electric Mobility. As part of the deal, Jameel will initially pump in $150-million (Rs 1,160 crore) for a 35.8 per cent stake in the company, making it the second-largest shareholder in the firm.
Greaves Cotton commonly known as Greaves is one of the leading and diversified engineering companies in India with a rich legacy and brand trust of over 160 years impacting a million lives every day.
