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Saudi Aramco Signs Deal With EV Giant BYD
Financial Express Lucknow
|April 22, 2025
SAUDI OIL GIANT Aramco signed a joint development agreement with Chinese electric vehicle (EV) manufacturer BYD to explore collaboration in the development of new energy vehicle technologies, Aramco said on Monday.
The agreement, signed by Aramco unit Saudi Aramco Technologies Company (SATC), aims to enhance vehicle efficiency and environmental performance, as the kingdom steps up efforts to transition toward cleaner mobility.
The deal comes after US EV maker Tesla launched its presence in Saudi Arabia with an event in Riyadh on April 10.
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