SHANGHAI: Saudi Aramco, the world’s largest oil producer, and Chinese electric vehicle giant BYD have announced a strategic collaboration to advance new-energy vehicle technologies. The announcement was made as the Shanghai Motor Show opened on Monday.
Aramco’s subsidiary, Saudi Aramco Technologies Company (SATC), will work with BYD to develop innovative technologies aimed at improving efficiency and environmental performance in the transport sector. While the financial terms of the agreement were not disclosed, both companies highlighted the potential of the partnership to accelerate the development of advanced powertrain systems and lower-carbon solutions.
Ali A. Al-Meshari, Senior Vice President of Technology Oversight at Aramco, said the company is exploring multiple avenues to optimize transportation efficiency—from advanced fuels to next-gen powertrains.
BYD Senior Vice President Luo Hongbin emphasized that the alliance would leverage both companies’ R&D strengths to deliver high-efficiency, low-emission mobility solutions globally.
The move aligns with Saudi Arabia’s broader economic diversification goals, including plans to install 5,000 EV charging stations by 2030. The kingdom’s Public Investment Fund also owns a 60% stake in California-based EV maker Lucid and has partnered with Hyundai to develop an electric and thermal vehicle manufacturing facility in Saudi Arabia.
