Saudi Aramco has entered into a joint development agreement with BYD to advance new energy vehicle (NEV) technologies. The partnership, aimed at fostering breakthroughs in the NEV sector, will utilize the R&D expertise of both companies to enhance efficiency and environmental performance.
This collaboration follows BYD’s official entry into the Saudi Arabian market in February 2024, where it unveiled a range of electric vehicles, including the Han EV, Atto 3, Seal EV, Qin Plus, and Song Plus. With the goal of promoting electrification, the Saudi government targets 30% of all vehicles being NEVs by 2030.
The joint effort will leverage Saudi Aramco Technologies Company’s extensive R&D experience and BYD’s cutting-edge capabilities in the NEV sector, aiming to develop solutions that balance high performance with a low carbon footprint. Ali A. Al-Meshari, Saudi Aramco’s senior vice president of technology oversight & coordination, emphasized the importance of this partnership in achieving breakthroughs in NEV technology.
Luo Hongbin, BYD’s senior vice president, expressed confidence that the partnership would transcend geographical boundaries and foster innovative solutions for a sustainable future. This collaboration further strengthens the partnership between Saudi Aramco and BYD, aligning with Saudi Arabia’s growing focus on electrification and green technologies.
BYD’s first store in Saudi Arabia opened in Riyadh on May 28, 2024, offering a showroom, discovery center, and service center. The company’s global sales of NEVs saw a significant rise, with a 59.81% year-on-year increase in the first quarter, totaling over one million vehicles sold.
About BYD
BYD, a leader in electric vehicle manufacturing, has made significant strides in global markets, with a focus on producing environmentally friendly vehicles. The company has expanded its presence in key regions, including Saudi Arabia, where it is helping to drive the country’s shift towards greener, more sustainable transportation solutions.
