Saudi Electricity signs deal with Japanese firms for first EV pilot [Reuters (UK)]
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Source: Reuters
Saudi Electricity signs deal with Japanese firms for first EV pilot | Reuters Reuters Staff 2 Min Read KHOBAR, Saudi Arabia (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 comp
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