Hong Kong’s Templewater builds Middle East ties to unlock energy transition deals

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Hong Kong’s Templewater builds Middle East ties to unlock energy transition deals - SCMP

Quick Summary:

Private equity firm eyes opportunities for its entities in vehicle manufacturing and sales distribution in the Gulf Cooperation Council nations.

It had earlier agreed to offer customised hydrogen-powered vehicles in the United Arab Emirates.“We see a lot of complementary elements between Wisdom Motor and the GCC countries,” chief strategy officer Felix Xu said.“We strive to become the leader in providing zero-emission commercial vehicle solutions which fits perfectly” with the region’s decarbonisation strategy and agenda, he added.

It signed a preliminary agreement in March with the OIA, which manages US$50 billion of assets, setting the stage for investment and collaboration in green transport.