Aramco and BYD unveil car technology alliance
TDT | Shanghai
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Saudi Aramco and the Chinese electric vehicle giant BYD announced yesterday an agreement to work together on what they called new-energy vehicle technologies.
The Saudi oil giant is already a partner with Renault of France and the Chinese automaker Geely in a joint venture to produce thermal engines.
Its subsidiary Saudi Aramco Technologies Company is now teaming up with the Chinese EV and hybrid vehicle giant, although terms of the accord were not specified.
In a joint statement the companies said the deal aimed to “foster the development of innovative technologies that enhance efficiency and environmental performance”.
The statement was issued ahead of Auto Shanghai, the world’s largest industry show of its kind, which opens today. Saudi Aramco “is exploring a number of ways to potentially optimize transport efficiency, from innovative lower-carbon fuels to advanced powertrain concepts”, said Ali A. Al-Meshari, its senior vice president of Technology Oversight and Coordination.
A Saudi EV brand called CEER, launched in 2022, is expected to begin production this year. Tesla opened its first showrooms in Saudi Arabia on April 10.
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