Saudi Electricity signs deal with Japanese firms for first EV pilot
14/01/2018 17:56
KHOBAR, Saudi Arabia, Jan 14 (Reuters) - State-controlled
Saudi Electricity Co (SEC) has signed a deal with Japanese Tokyo
Electric Power Co (TEPCO), Nissan Motor Co and Takaoka Toko for
the first electric vehicle (EV) pilot project in the world's
largest oil exporter, it said on Sunday.
Saudi Arabia is keen to develop its auto industry as part of
efforts to diversify the economy beyond oil and has teamed up
with Japan's Toyota Motor Corp to conduct studies for that.
Tighter global emissions regulations are forcing automakers
worldwide to shift to EVs, and some are tying up to share the
high costs of developing batteries for them.
Under the agreement, fast-charger stations will be developed
to charge EVs in 30 minutes. SEC will borrow three EVs from
Nissan while TEPCO and Takaoka Toko will provide three fast
chargers. SEC did not give a timeframe for the plan.
Such a move is part of the company's strategy to reduce
reliance on oil and cut emissions, SEC said in a statement.
State oil giant Saudi Aramco is also working on technologies to
make vehicles more efficient.
Its CEO Amin Nasser told Reuters in November improved
efficiency would better sustain production in the long term with
renewables hopefully growing and contributing to meeting rising
demand which will require different sources of energy.
Nasser told CNBC in October in an interview, EVs will take a
good market share but it will be decades before they have a
significant percentage of the energy mix.
Saudi Arabia hosted on Sunday a Saudi-Japanese business
forum where MoUs have been signed with companies including
Saline Water Conversion Corporation (SWCC) and New Energy and
Industrial Technology Development (NEDCO).
(Reporting by Reem Shamseddine, additional reporting by Marwa
Rashad, editing by David Evans)
((Reem.Shamseddine@thomsonreuters.com; +966503335202; Reuters
Messaging: reem.shamseddine.thomsonreuters.com@reuters.net))
Keywords: SAUDI ELECTRIC/AUTOS