BEIJING: Electric vehicle brand Beyonca, backed by Renault and Dongfeng Motor , said on Monday that it signed an investment agreement with Riyadh-based Al Faisaliah Group Holding Company.

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At the signing ceremony at Dongfeng Motor’s headquarters in the central Chinese city of Wuhan, Beyonca also inked a strategic cooperation deal with QG FZE-LLC regarding investment opportunities in the Middle East, according to the EV brand.