Saudi oil giant Aramco has signed an agreement with BYD, a Chinese new energy vehicle and power battery manufacturer, to advance new energy vehicle technologies.
The partnership, formalised through a joint development agreement between Saudi Aramco Technologies Company (SATC) and BYD, is set to enhance vehicle efficiency and environmental performance, Aramco says.
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The agreement brings together the research and development expertise of two industry giants, aiming to achieve significant breakthroughs in new energy vehicles.
The agreement follows Tesla’s recent foray into the Saudi Arabian market, marked by an event in Riyadh on 10 April.
BYD senior vice-president Luo Hongbin said: “At the crossroads of technological innovation and environmental protection, BYD always believes that true breakthroughs come from openness and collaboration.
“We expect that SATC and our cutting-edge R&D capabilities in new energy vehicles will break the boundaries of geography and mindset to incubate solutions that combine highly-efficient performance with a lower carbon footprint. We are confident that this will support the world’s efforts to address the climate challenge.”
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By GlobalDataSaudi Arabia has plans to boost electric vehicle (EV) adoption, targeting a rise from 1% to 30% within the next five years, reported Reuters.
Despite this goal, the country currently grapples with infrastructure hurdles, having only 101 EV charging stations as of 2024.
Aramco Technology Oversight & Coordination senior vice-president Ali A. Al-Meshari said: “The collaboration between SATC and BYD aims to support improvements, and it builds on Aramco’s extensive research and development of new energy solutions.
“Aramco is exploring a number of ways to potentially optimize transport efficiency, from innovative lower-carbon fuels to advanced powertrain concepts. This work stems from our belief that multiple approaches are necessary to support a practical energy transition and we are delighted to collaborate with BYD on this journey.”
Earlier this month, BYD Auto made its foray into the Swiss automotive sector, marking another milestone in its global expansion.
