EVIQ and BYD partner to enhance electric vehicle ownership in Saudi Arabia
The collaboration accelerates Saudi Arabia's journey toward a sustainable future with cutting-edge high-speed charging solutions and exclusive customer-focused offers designed to support the adoption of electric vehicles
Saudi Arabia - The Electric Vehicle Infrastructure Company (EVIQ), a joint venture between the Public Investment Fund (PIF) and the Saudi Electricity Company (SEC), has signed a Memorandum of Understanding (MoU) with Alfuttaim Electric Mobility representative of 'BYD' in the Kingdom. This strategic alliance intends to expedite electric car adoption in the Kingdom by combining EVIQ's fast-charging infrastructure expertise with 'BYD''s customer base.
The MoU outlines major areas of collaboration, such as the implementation of a high-speed public charging infrastructure at 'BYD' Al-Futtaim Electric Mobility locations throughout Saudi Arabia. The alliance will also provide charging packages to 'BYD' customers, ensuring a seamless and accessible charging experience that meets global standards of quality, safety, and efficiency requirements.
EVIQ remains at the forefront of developing Saudi Arabia's EV ecosystem, with a goal of deploying over 5,000 chargers in strategic locations around the Kingdom by 2030. This collaboration with 'BYD' demonstrates EVIQ's dedication to establishing strong local and international collaborations to lay a solid foundation for the sector. By providing widespread access to charging stations, EVIQ hopes to make EV ownership more which will help in accelerating the Kingdom's transition to a sustainable transportation future.
Commenting on the partnership, Mohammad Gazzaz, CEO of EVIQ, stated: "Our partnership with 'BYD' Al-Futtaim Electric Mobility marks a significant milestone in transforming Saudi Arabia's transportation landscape. By combining our expertise in fast-charging infrastructure with 'BYD''s expertise in electric mobility, we aim to deliver an unparalleled EV charging experience for EV owners in the Kingdom, contributing to the nation's sustainability goals and Vision 2030 agenda."
'Strategic collaborations, such as this, are key to shaping a greener, more sustainable future for Saudi Arabia. The partnership between 'BYD' and EVIQ aligns with our shared vision of driving sustainable mobility through cutting-edge EV technology and infrastructure. Together, we aim to empower EV adoption by providing accessible, efficient, and high-quality charging solutions across the Kingdom." – added Badr Khojandi, General Manager, 'BYD' KSA.
The partnership supports EVIQ's aim of leading the Kingdom's EV transition, through developing a comprehensive charging network that provides convenience for EV owners, decreases carbon emissions, and promotes a better environment in Saudi Arabia.
In addition to deploying world-class infrastructure, EVIQ's cutting-edge Research & Development (R&D) Facility in Riyadh will play a critical role in testing and refining technologies for this collaboration, ensuring compatibility and efficiency tailored to the Saudi market.
-Ends-
About EVIQ:
The Electric Vehicle Infrastructure Company (EVIQ) is a joint venture company between the Public Investment Fund (PIF) & Saudi Electricity Company (SEC). The company supports EV adoption in the Saudi market by building best-in-class infrastructure and creating a nationwide network of fast-charging hubs for electric vehicles around the Kingdom. With a vision to deploy more than 5,000 chargers in strategic locations around the Kingdom, EVIQ is spearheading the enablement of the EV ecosystem in Saudi Arabia.
Through strong collaboration with local partners for installation & maintenance, EVIQ is aiming to build a strong foundation for the sector which will stimulate the growth of EV adoption among the Saudi community, leading to making the sector more attractive and rewarding for investors to take part in the journey.
In addition, EVIQ has also established a state-of-the-art Research & Development (R&D) Facility in Riyadh, which is the first of its kind in the region. The new facility will be used for testing a spectrum of chargers and software, to ensure the deployment of best-in-class equipment and related software, reinforcing EVIQ's commitment to quality & efficiency, and driving the evolution in the EV sector across the Kingdom of Saudi Arabia. This facility is a cornerstone in the deployment of chargers & technologies that meet the highest standards of quality, safety, efficiency, and compatibility for the Saudi Market.
EVIQ envisions a robust presence throughout Saudi Arabian cities and connecting roads by 2030. This strategic initiative aligns with relevant regulations and standards, aiming to lead the electric vehicle (EV) transition by providing best-in-class and widely accessible EV charging infrastructure. The widespread adoption of EVs holds multifaceted benefits, such as cost saving for car owners, reducing carbon emissions from transportation, and supporting a more sustainable & greener environment for Saudi Arabia.
About BYD:
BYD is the leading global producer of new energy vehicles (NEVs), having sold an impressive 3 million NEVs worldwide in 2023 alone. As one of the most successful manufacturers of electric and plug-in hybrid vehicles worldwide, BYD is the only company to produce the full industrial supply chain of electric vehicles, including the batteries, electric motors, electronic controllers, and semiconductors. With successful operations in several advanced markets, including Europe, the USA, Japan, and Korea, and a dominant market share in China
About Al-Futtaim Electric Mobility:
Al-Futtaim Electric Mobility is a subsidiary of Al-Futtaim Group, dedicated to promoting and advancing sustainable mobility solutions in the UAE and across the Middle East. The division is focused on the distribution and sale of electric and hybrid vehicles, charging infrastructure, and related services. With a strong commitment to environmental sustainability, Al-Futtaim Electric Mobility aims to accelerate the adoption of electric and hybrid vehicles in the region, reducing the carbon footprint and promoting a cleaner and greener future. The company is the exclusive distributor of Polestar and 'BYD' electric vehicles in the UAE, offering a range of models that cater to different needs and budgets. In addition to offering electric vehicles, Al-Futtaim Electric Mobility provides a comprehensive range of services that includes charging solutions, after-sales support, and financing options.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arabian Post
7 hours ago
- Arabian Post
Bechtel Secures Major Role in Riyadh's Airport Expansion
Arabian Post Staff -Dubai Bechtel Corporation has been appointed as the delivery partner for three new terminals at King Salman International Airport in Riyadh, marking a significant advancement in one of the world's most ambitious aviation infrastructure projects. The agreement, formalised during a high-profile visit by U.S. President Donald Trump to Saudi Arabia, entrusts the U.S.-based engineering firm with managing the development of a terminal for commercial airlines, Terminal 6 for low-cost carriers, and a private aviation terminal complete with hangars. This collaboration underscores the strengthening infrastructure ties between the United States and Saudi Arabia. ADVERTISEMENT KSIA is poised to become the world's largest airport upon completion, a cornerstone of Saudi Arabia's Vision 2030 initiative aimed at diversifying the nation's economy and enhancing global connectivity. The airport is designed to handle an anticipated capacity of 185 million passengers and 3.5 million tonnes of cargo annually by 2050. It will feature six parallel runways and encompass an area of 57 square kilometres, integrating advanced sustainable practices to achieve LEED Platinum certification across all terminals. Darren Mort, President of Bechtel's Infrastructure Business, expressed enthusiasm about the project, stating, 'The King Salman International Airport is a landmark project that will reshape Riyadh and enhance the lives and communities it serves.' He highlighted Bechtel's extensive experience in delivering complex airport projects globally, including Hamad International Airport in Qatar, Dubai International Airport in the UAE, and London City Airport in the UK. Marco Mejia, Acting CEO of the King Salman International Airport Development Company, emphasized the project's commitment to innovation and sustainability. He noted that the selection of Bechtel as the delivery partner reflects the project's dedication to elevating aviation infrastructure standards through collaboration with a company possessing over 120 years of global experience. The new terminals are expected to replace existing facilities at King Khalid International Airport, enhancing Riyadh's status as a global hub for transportation, tourism, and trade. The development aligns with Saudi Arabia's broader goals of economic diversification and infrastructure modernization. Bechtel's role in the KSIA project builds upon its longstanding presence in Saudi Arabia, where it has completed over 300 projects, including the recently inaugurated Riyadh Metro. The company's involvement in KSIA signifies a continued commitment to supporting the kingdom's transformative infrastructure initiatives.
Zawya
9 hours ago
- Zawya
Qatar's economic diversification spurs influx of high-tech, sustainability
Doha - Qatar's ambitious push toward economic diversification under its National Vision 2030 is rapidly transforming the country into a magnet for global consulting firms specialising in technology, sustainability, and governance. As the nation accelerates its investments in digital infrastructure, ESG compliance, and private sector development, a new wave of consulting expertise is entering the market bringing with it cutting-edge AI platforms, deep sectoral knowledge, and a strong focus on building local talent and institutional capacity, an official explains. This growing influx signals both confidence in Qatar's reform agenda and the rising demand for agile, innovation-driven advisory support across sectors. Global consulting firms continue to play a key role by placing Qatar at the center of its ambitious plan to scale revenues from $24m to $100m in just two years. Speaking to The Peninsula, Jamil Khatri, Co-Founder and CEO of Uniqus Consulting said 'We are already on track for revenues of $50m this year. Qatar is critical to our $100m roadmap. We bring a highly differentiated approach — from deep expertise and global integration to a proprietary tech stack that sets us apart in the consulting landscape.' The official underlines that there is a strong synergy with Qatar's ambitious development goals, particularly as the nation advances its strategy toward economic diversification, digital transformation, and global competitiveness. 'Qatar's Vision 2030 outlines a bold digital and economic transformation agenda, and believe it is well-positioned to contribute through our proprietary tech platforms, AI investments, ESG capabilities, and global expertise around risk management, he said. 'The Qatari vision of being in the top echelons of the business environment and digital competitiveness aligns well with our service offerings, Khatri said. To ensure cultural relevance and impactful execution, companies are leaning on local partnerships and targeted talent strategies. A key example is its collaboration with the Gulf Organisation for Research and Development (GORD) in the field of sustainability and ESG — a partnership the firm aims to deepen through its Qatar operations. 'We have already identified a local leader with a deep understanding of the market, to lead our operations in Qatar,' Khatri noted. 'We're committed to recruiting and nurturing local talent while leveraging Uniqus' global skills to build awareness and capability in the Qatari market.' 'The GCC is undergoing a fundamental transformation driven by diversification, infrastructure, digital reform, and governance. Qatar, in particular, stands out as a beacon of this shift. As companies in the region move forward on this journey, the demand for agile, tech-enabled consulting will only intensify and that is a significant growth driver, he added. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
Fintech News ME
13 hours ago
- Fintech News ME
Saudi Digital Bank D360 Eyes Series A in 2025, Targets Global Investors
Saudi Arabia's digital bank D360, backed by the Public Investment Fund (PIF), is in preliminary discussions with potential global investors as it prepares for a Series A funding round slated for the second half of 2025. The Shariah-compliant bank, which began operations in December, aims to complete the fundraising in the first quarter of 2026, according to Chief Executive Officer Eze Szafir in an interview with Bloomberg. This follows D360's successful raising of approximately US$500 million from existing shareholders, including the PIF and Derayah Financial Co. Szafir did not specify the size of the upcoming round but said the funds would support efforts to expand services to small and medium-sized enterprises (SMEs), in line with Saudi Arabia's economic diversification objectives under Vision 2030. 'We're looking for new investors in the international landscape, most probably from Europe or the US, with the same quality we have here with the PIF and Derayah,' Szafir told Bloomberg. The bank also plans to launch comprehensive lending services for individuals and SMEs later this year. To prepare for the funding round, D360 has appointed former JPMorgan Chase & Co. banker Mohammed Nazer as Chief Financial Officer to oversee the process. Nazer said the bank expects to appoint advisers to manage the Series A round by the end of July. D360 is among the first institutions to receive a digital banking licence in Saudi Arabia and currently serves over 1 million users. It is targeting 4 million account holders ahead of a potential public listing within the next four years. By leveraging data-driven strategies and modern technologies, the bank aims to support the development of Saudi Arabia's digital financial infrastructure in alignment with Vision 2030. The move comes as the Saudi Central Bank (SAMA), continues to update regulatory frameworks to facilitate digital transformation in the financial sector. SAMA has prioritised innovation and financial inclusion by licensing new digital banking players as part of efforts to modernise the Kingdom's banking system and bolster financial resilience. This regulatory push has contributed to electronic payments accounting for 79% of all retail transactions in Saudi Arabia in 2024, up from 70% in 2023, according to SAMA. The central bank also reported that non-cash retail transactions totalled 12.6 billion in 2024, compared with 10.8 billion the year before, reflecting ongoing growth and adoption of digital payments nationwide.
